Unlike traditional CRPG's, after completing the Main Quest you are not finished unless you want to be. Once you exit Shedungent (be prepared for a drop because you appear several feet off of the ground), you are free to do whatever you want. The Guilds, Merchants and Nobles are still active, but you might have to overcome some negative rep with the NPCs that did not get the Totem. You can quest and dungeon-crawl to your heart's content, you can start a new game with a different character or just forget the whole thing (there aren't many players who take this option after the first playing).
Unfortunately, the completion of the Main Quest does not make any changes in the game environment. You won't hear anything about your exploits with the Totem or see any changes in the political structure of the Bay. Even though there is a short animation telling you the results of your actions, Bethesda could have made a bit more whoop-de-do at the end.
So keep your sword sharp and go exploring. There is much to see and do in Tamriel and you have only scratched the surface.
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"Daggerfall" is the second chapter of "The Elder Scrolls". The third, "Morrowind," is still in the development stage and the fourth (tentatively titled "Oblivion" from what I can gather), hasn't even begun. In the fall of 1997, Bethesda released "Battlespire", which may or may not have a follow-up. In 1998, Bethesda released the first of a new series ("The Elder Scrolls Adventures") called "Redguard".
"Redguard" differs from "Daggerfall" in several respects, most notably in that it is 3rd-person perspective rather than first, you have no choice of character, the quest is much more linear, and your character's abilities are static throughout the game. The graphics and environment are light-years ahead of "Daggerfall" and the game is 1000% more stable. Bethesda used live actors for the NPC voices and the music is wonderful. Although not strictly an adventure-genre game (a la "Tomb Raider" and its progeny), nor an interactive mystery ("Gabriel Knight" and such), "Redguard" combines the best of both and is a very impressive game. If this is an indication of what "Morrowind" will be like, I think we're all in for a real treat.
"Redguard" is set on the island of Stros M'Kai in the Hammerfell province. The time is the beginning of the Septim Empire and the Redguards are just emerging from a civil war and faced with the problem of Tiber Septim. Cyrus (your character) is a Redguard mercenary who has returned to Stros M'Kai to investigate the disappearance of his sister. Set aside about a week to play it through from start to finish and enjoy.