Yes! Id' love it, if I had the money. I'd need to be highly adjustable, you know: because of pain, extreme cold, hunger, sort of thing.
I'd probably head for the geothermal area south of Windhelm (it reminds me of Rotorua in New Zealand) or the squelchy marshes around on the way to Morthal.
If there's no pain involved, then I'd love to experience this! I'd go everywhere, touch everything. I'd probably try it as a bunch of different characters as well- from muscular Redguards with warhammers to dainty Altmer with magic. Though... If I feel everything my character feels, I'd imagine it'd be more than a bit odd to roll female characters. (That said, I'd be willing to try that too.). Anyhoo, in short, I'm absolutely down with this theoretical idea. We'll just have to see what the future holds, huh?