Any information on how gear and progression will work?

Draron

I haven't been keeping up with everything, so I may have missed info on this. Just saw a video where they mentioned every class can wear pretty much every piece of armor and use any weapon, and that Dwemer/Elven/Daedric armor will all be in along with the other usual sets.

Is there any info on how this is going to work? Is Dwemer going to be the best, but slow your character down? Is there going to be a tiered endgame approach that pretty much leaves all the other sets worthless?

I hope they do something like UO, where every set of gear has it's uses - heavier armor for more physical defense, the lighter ones having more elemental resistances. And let us build our own custom sets with enchanting.