I love that there's no fast travel, but at the same time I'm tired of heading up through the mountain pass and running into that same group of goblins, or the bandits just outside the gates of Gran Soren, or the wolves all over the path to the Witchwood. It's the annoyance of low level mobs that bug me the most.
I wish that you could "clear" areas of land, much the way you clear out the quarry and then have a safe route from Gran Soren to the Shadow Fort. I think it would be neat if after putting in a bunch of time in an area and clearing out a bunch of quests, you stop getting those low level encounters and are given the option to hire a wagon or something to move to the edges of that area quickly. Even if it was all in-game (like GTAIV's optional taxi rides) and not your typical "warp" fast-travel. Maybe you'd still get the big "Ambush" encounters in these safe areas every so often, but you wouldn't have to deal with the 6 obnoxious harpies every time you cross the bridge by the castle.
There could have always been the option to warp using Riftstones, too. Then you'd just be flitting between found safe locations, which would be an alright solution.