There's a "signpost fast travel" mod that lets you teleport to any town mentioned on signposts as long as you have visited it before, while paying a small fee for an imaginary guide. That's a decent compromise, given how tricky actual real-time pathfinding can be in Morrowind.

(Otherwise my favourite system comes from Daggerfall Unity, where there is a mod that lets your character automatically, in real time, follow roads until the next fork/intersection. With an option for time compression that really hits the sweet spot of being explicit travel without being tedious.)

Teleportation is actually in the base game, just with only one mark and recall point, as you may know.

The mods I’ve seen add a selectable list and scale out how many locations you’re allowed to save based on your associated magic skill.

So it’s both a boon to quality of life and still relatively balanced and not too overpowered.