You have too many incorrect points to even address. But I'll try.
1) I do know. I've written a primitive DX11 renderer myself. Have you?
2) There are many games coming out on DirectX 11 for PC and still are cross-platform.
3) Oblivion was very free from the limitation of consoles. They had graphical sliders for most everything, and INI file settings for the rest. How did this happen, magic?
Ugh, I can't even bear to reply any longer.
I would hope you're right.
Plus, they are in a "content crunch" now, what are the graphics guys doing? What a lot of people must not realize (poster above you included) is that the rendering engine is very separate from the game engine. I bet a lot more code and time is devoted to the game part. They clearly already have a renderer, as we've seen real live screenshots, so are they just sitting around now? I would hope not. I would hope for them devoting time to progressive enhancements for PC users.
They already have one big example of progressive enhancement for PC users: Every game since Morrowind has released their own creation kit.
Not to mention like I said above, Oblivion wasn't just a strict port. They gave us options to enhance the visuals at least some. That had to take time to do for us.