I really like the way things are right now. I remember how in Fallout (especially the second one) I always shot my enemy in the eyes and blinding them, rendering them unable to hit me, which made combat super easy. A targetting system can easily be abused like that which is unfortunate.
With special feats and skills, it adds to the concept of choice, whether you want to disable your enemies legs in order to get away, or aim for extra damage to neutralize enemies faster, it adds to the gameplay and provide a certain degree of depth which I really like in RPGs.
Come to think of it, I would really love to see a feat that allow the player to make silent shots with crossbows that does not break stealth, because as it is right now, my crossbow stealth character can't kill enemies efficiently enough. These shots need long cooldowns though for them to balance.