I know Skyrim is getting released on current gen consoles but they really should seriously consider Morrowind & Oblivion. A little more work to enhance the former but they would both be worth doing.
They would look new if they enhanced them. Modding TES games since III isn't a huge deal...I would guess there's way less involved compared to remastering Final Fantasy games.
Enhance PC versions with mods then port them to current gen.
THE BEST METHOD to run PSX games (and everything else for that matter) is via Retroarch - http://buildbot.libretro.com/nightly/
If you have any questions on how to set it up on Windows please feel free to ask, its very easy.
There's also too much temptation to blatantly cheat with PC versions. On consoles all you can do is exploit in-game.
Although I do have some ported mods for TES III Xbox they aren't anything that make you totally OP, just some extra weapons and a few things. I have played around with some of those mods but honestly haven't spent much time playing the game using them. Majority of the time I played the game was using my retail PAL goty.