Yes absolutely. As much as I loved Oblivion, they have a ton of things they can improve on, and one of them is hair and facial hair. I'd also like to see piercings and tattoos and scars added to the game.
Seeing as facial hair has been in their games since Sheogorath in the Shivering Isles expansion, I can't see why they would take it out now. I don't want it personally as my character is always female, but I 'm sure it will be in the mix. Tattoos & piercings would be nice too.
I'm sure they will. If it was in Fallout there is no need to regress, and I thought the facial hair in FO3 and New Vegas was great (lacking only in the amount of hair styles we could pick from... I wanted a Gandolf beard!).
A Nord without a beard is like Elves without pointy ears.
I'll be able to play a real Nord since Morrowind. At last.
I know the feeling. Many of my chars from Morrowind had beards, so I had to pretend they all shaved right before Oblivion. Not great from a roleplayer's perspective...