I love the graphics and think they are a huge step up from the gamebryo, and people you need to realize the unknown size of this game. All graphic limitations are not only with the card maximization, but the game limitations. If this game is anything like the size of oblivion, the graphics are a disappointment to me, but if this game is almost 2x the size, or just bigger for the matter of fact, i'm impressed. You guys seem too disappointed to me, but we only know a fraction of what the game has to offer, and we are yet to even see hd gameplay. I'll bet money that this game is going to fit its graphic limitations perfectly, and like i've seen bethesda do, they go all the way to the max, even with aged products *cough*Gamebryo*cough*
The games Bethesda made with Gamebryo didn't look the way that they did because of the Gamebryo engine, and if this new game is properly built then the size of the game world shouldn't be a major determining factor in how nice it can look.
As for what I think about the graphics: they look pretty standard for a relatively high-profile game to me, but compared to Bethesda's past efforts they're a pretty significant improvement (not in a "this is a new game from them so it's going to look better" sort of sense, but in a "I didn't think Bethesda as a studio was capable of this" sort of sense).