:facepalm: TES V will never be for Natal. That would destroy the game. Natal isn't that good. It could never be used for an Elder Scrolls game because it is too weak, TES series is now multiplatform, it would ruin the game, it would require Bethesda to change the entire game for Natal(only for one platform), the controls would never work, it would destroy all that remains of the foundation of TES series, and it would just be wrong.
To be fair, it's been said that Natal may come to the PC as well, so a game for Natal would be on both Xbox 360 and PC. And Seti, I'm sure you're pretty aware of how Bethesda treats PS3 gamers.
But there really isn't a chance TESV will be for Natal. Not because it would be dumbed down (which I disagree with but it is
NOT something I'm looking to argue about), but because it's just very very unlikely. Like I said before, Todd Howard thinks the Wii is a toy, so he wouldn't dare make a full ES game for Natal.
My guess is that they're developing an Elder Scrolls Adventures-esque game for it. Think about it, a linear hack-n-slash like Redguard would work great on Natal.