With Dynamic shadows and my best judgment form these crappy scans the game looks phenomenal for its scale, what its keep track of and more on current consoles. Its really an astounding acheivement to do this on X360 and PS3. Many forget how much Skyrim is doing behind the scenes that eat up processing power. Radiant AI 2.0, thousands of items, wind blowing every individual branch. Thats ridiculous. So for a 2011 console title Im very impressed.
For a 2011 PC title this looks HORRIBLE! I believe I heard a rumor these shots are of the PS3 version. The PC version should look worlds apart cause right now Crysis destroys this thing. DX11, advanced physics, tessellation, Simulations of water, volumetric smoke and fog, no reason the PC version shouldnt look far far far better.
EDIT: Big step up from Oblivion though.