It seems that in morrowind, my personal wealth exceeded a few hundred thousand k very often. And there wasnt much of an outlet for me to spend it all. i was wondering if the Economical aspect of oblivion was revamped, or at least tweaked so that it will be harder to earn and funner to spend the money you make. I have heard that houses will be much, much more expensive but what about basic equipment? swords and stuff should be harder to get, all equipment should be tougher to get so i dont get a Fiend Katana as soon as i hit the first town...

I was always a millionaire, but spent it all on enchantments... lol
They said there's gonna be less gold just lying around, and I think it's gonna be harder to get rich from killing someone and clearing out their house. And now we have things to save up for like a house in Imperial city and the best horse (minus Unicorn).

I wonder if a can do the old kill an pillage.

As we all know, the Elder Scrolls series is about 'open-endedness' so i expect that, yes, you can do "the old kill an pillage". The only situation that i can think of where you can't do "the old kill and pillage" is if your killing an NPC that is essential to the main quest.