I wouldnt say they are fantastic and amazing, they are about on par with a lot of other 2011 games. Beaten by a few DX11 games obviously but as I said, Skyrim is far from cutting edge.
Also, why do we need to name another 2011 rpg game similar to Skyrim? First you defend the visuals and then you give a question that implies the amount of content excuses the visuals.
And have you seen the demo in person? Which company do you work for, not saying you arn't just curious for another perspective? This is my point, the previews I have seen and I have read alot, not one has mentioned that the graphics are the same as Oblivion, OR given examples to what looks better, or that the graphics are below par or average for a 2011 game!
In regards to the rpg element, I was talking about in perspective for the style of game it is, I never said from the screenshots that Skyrim was the best looking game ever, or that it was superior graphically to even Crysis or Crysis 2, however they are completely different games. This is the point I am making, no other company does graphics like Bethesda do in their open world RPG genre! Anyone can make a really pretty linear railline game, Killzone 3 is a good example of this, looks fantastic but you are not free to run around doing what you want when you want or exploring a large area.