hmmm... For the sake of pure scenery, lack of violent duststorms, and convenience (including travel to the mainland, because if I lived in a world I would defenitley not be content to sit in one place the whole time) I would say West Gash region, somewhere near Gnaar Mok or Khuul perhaps.
BUT if we are playing morrowind time, meaning there is a monster war about to break out over the land with the crumpelingn of the empire, defenitely by Sadrith Mora.
While I am most confident of my ability to hold off a regiment or so (a few hundred guys right?) I dont know how long even my godlike character could last against a full army. Of course I would hire guards and stuff... but even the toughest morrowind character would go down fast. If I lived near the Telvanni on the other hand... My character is the Arch Magister of a house of super wizards. I have at least 5 council members who can cast spells and summon like nobody's business, and a horde of underlings in their various wizard towers I can call upon. Thats where I would be safest, and the scenery isnt all that bad either.
Even though you specifically said not to put it, my imagination is loving this so I will tell you exactly what kind of house I would want (if you dont like it, then feel free to stop reading). I think Master Ayron had teh right idea with Tel Vos. A strong Imperial style fortress combined with the enchanted Telvani mustroom house. only mine would be bigger, with more soldiers, better lighting, and wider staricases and passageways so i didnt get stuck every 3 seconds.
and i wouldnt want to levitate up to my room every time i felt like a nap... i dunno i would have to recruit yagrum the dwarf to work out engineering specifics.
"He hoped and prayed that there wasn't an afterlife. Then he realized there was a contradiction involved here and merely hoped that there wasn't an afterlife."