So unless fighting a giant mudcrab or slaughterfish works for you, it probably isn't going to happen. Well that's what i could come up with, some of you might have cooler ideas or something.There aren't any creature models which would work for anything like that currently, and there don't seem to be too many people who are idle who can do that kind of work. I guess besides gold a good reward could prob be like dragon scale armor, which could be like a reskin of mithril or elven. Oblivion was simplified much more, taking those 10 skills of Morrowind's and compressing them down into 6 skills, removing some skills like Medium Armor and Spears, and merging others into other skills like Axe and Short Blade.
theres this oen big waterfall where the dragon slithers out to defend his hoard of treasure! imagine the arena being covered with skeletal remains and old rusty weapons. Morrowind had enough weapon and armor skills to take up all 10 majors and minors as a weapon or armor skill. Or how about an oblivion version of a classic tale? you've all probably have heard of siegfried/sigurd and his slaying of the dragon fafnir? You could make like this waterfall arena, that has like shallow water covering the ground. I was just thinking wouldnt it be pretty creepy if you were taking a dive in lake rumare, and out of the fog of the lake came this long necked beast from the deep! You guys have prob all seen or heard of loch ness or bigfoot or stuff like that.