[Sever]

This advice may seem a bit boring, but that's because i find the game more enjoyable at lower levels. Join only one or two guilds per character. Each has enough quests and reward items to see you modestly powerful and there's plenty of miscellaneous quests to kill time in between (and make you godlike, if that's what you want). The guild quests also seem to be geared towards low level characters. It's just no fun being the Nerevarine, Hortator, Archmage, Archmagister and Guardian and then being sent out on a quest that any level 1 drop kick could complete. In fact, it's mildly insulting. I think you'll enjoy the guilds a whole lot more if you create a new character each time.

It's also less than convincing (in terms of roleplaying) that a character straight off the boat can become the kingpin of every major faction (and therefore the most powerful person by far in all Vvardenfell) in less than a year of game time. But that's just me.