I have no doubt this will be better than Oblivion, hopefully more towards the awesomeness of Morrowind.
Whilst Oblivion lacked in alot of areas, it does make me go "huh" when people complain about the combat, it was more fun than Morrowinds combat by far, apart from enemies being able to strafe around you at light speed. Also later mods made the combat even better, check out Deadly Reflexes mod, pretty awesome for what it is.
Whilst it was also buggy, I have to admit there are many times when it made me lol hard, I remember beating on the adoring fan inside a cave, only for him to run off, about 20 minutes later he came back and guards were with him, who then demanded gold for bounty lol, little bastard. I also got a few lols from causing the guards to fight eachother, I would attack loads of them and keep moving around blocking, they'd eventually hit eachother and start killing eachother, lemmings.