I also like loot - which is why I chose to have a capable squadmate in my ME1 party. 3 of the 6 potential squadmates (Tali, Garrus, Kaidan) - plus Shepard, depending on class - had the skills available.
Squadmate choice should matter.
Squadmate choice
should matter, I agree -- for dialogues, banters, quest acquisitions/solutions... not lockpicking. What if my preferred party in ME1 is Wrex and Ash? The others may have had the skills available, but having to put points into those skills meant I couldn't put the points into other skills. Hacking should be an omnitool animation, just like it was in ME3. If they want to make it interesting, have the tougher hacks take longer, maybe with a software upgrade to lessen hacking times.
The scene: Squad is standing in front of the main door to the base, squadrons of bad guys approaching over the rise...
Shepard: Wrex! Got that door open yet?
Wrex: Thought you might want to kill a few bad guys first!
Shepard: Hurry it up, will you???
Wrex: *sniff* Humans.
Ash: Uhh, Wrex?
Wrex: *Furiously punching buttons on his omnitool* Stupid machine!
Ash: Wait... is that a Logic Arrest 1.0?
Wrex: Just give me a minute.
Shep and Ash: *facepalm*
See, that could work much better than the same scenario playing out with Shep and Ash giving Wrex a dirty look for not being Tali.