Wasn't very impressive in Oblivion how when you stood in an outdoor stable, under the roof, snow and rain would fall through the roof.
I agree that's the first thing about the weather effects that needs to be improved, I could live without other improvements, although I'd say that in a modern game if Bethesda wants to impress us, they'll need to do better, but rain and snow passing through objects needs to be adressed. If Morrowind can avoid this with Morrowind Code Patch installed, the Elder Scrolls V has no excuse.
AM
they are designing the game for the xbox and ps3 so it isnt going to be that much different that oblivion in terms of graphics and physics. unless they are doing what reality pump did with their two worlds 2 game im just not holding my breathe for any spectacular improvements in graphics. thank god for mods.
While I'd imagine that the consoles may limit what Bethesda can do somewhat, assuming they're not willing to *gasp* let the PC version have significantly better graphics than the console versions, if played on the highest possible settings, still, I'd say they can definately improve upon Oblivion in this regard, considering that other games on the same consoles have already outdone it.