Combat:
This is a major point that, while not as big as level scaling in OB, has been the target of much criticism. And rightfully so. I am playing as a sort of battle monk: Speed, Medium armor and proficiency in spears and both types of sword. Honestly, it is one of the worst aspects of any good game ever released. While I have no problem with the idea of rolls determining the outcome, just because this system worked in turn based games (Baldur's Gate, and the Original TES games, if I am correct), in real time, simply does not work. There is no excitement or strategy. Against a weaker foe, I could literally go to the bathroom in the middle of a fight, and take the mouse with me while continuing to click the mouse. That's bad. And it would be acceptable if combat was avoidable, but it is not. Unlike in Oblivion, combat is much less avoidable due to no fast travel and the lackluster stealth elements. Just when I am about to get lost inside the world, I am svcked back out by this terrible design decision which, in my opinion, is worse than level scaling, since the game is hurt from the first hour of gameplay. I am sure magic is much better, but I cannot say anything about it yey.
RPG Elements:
This mainly involves the idea of skills, quests and attributes, amongst other things. While initially loved the larger selection of skills compared to Oblivion (more choice), I later realized that I was not happy at all with my selection. Its not that the game was too hard, its just that I ended up grinding many of my skills to level up rather than just playing it. Yes, this problem was also present in Oblivion, but was not as big due to fewer skills and thus a smaller chance to go wrong. Another issue is equipment. While I like the greater amount of armor and weapon types (even though I have yet to mix them up), what bothers me is that items make skills obsolete. I am currently equipped with Orcish Armour, which is still effective despite my modest skill level in Medium Armour. On the bright side, quests are, so far, good. They are certainly given more context than those in Oblivion and are thus more engaging. However, the journal is a complete mess, and after picking up and completing a certain quest, the only way I could find the quest giver who I forgot about was to go to uesp.net. I also think that quest directions could be better worded, but overall, I prefer the system of being told where to go - it creates a better connection with the world. I just think that it was somewhat poorly executed. Lets hope Skyrim fixes that.
World:
In other words, exploration and believability. This is, in my opinion, the strongest of the bunch. i love how each city is unique and interesting, and I find that discovering new settlements is the highlight of the game. However, I am so far disappointed by the variety of dungeons. I have yet to explore the vast majority of the island, but so far I have visited the same dungeon over and over again. The varied environments are a double-edged sword. While they are certainly all very different and beautiful, the transitions between them are not. I swear I could almost draw a like where the swamp turns into a jagged, burned out forest. Sure, it is awe-inspiring, but far from immersive. I feel that so far, the interiors of houses all look the same. However, there is still much left to explore, so this can only get better. What probably won't are the NPCs. They feel lifeless. They just stand there and do nothing. I know I have been spoiled by Oblivion, so I won't hold it against the game. However, the dialogues are like surfing Wikipedia - you click on link which lead to more links until all the links are clicked, and all the NPCs have almost exactly the same thing to say, so I eventually just stopped talking to them, which is a shame because some of them may have quests.
In the end, my initial reaction is not good. While I certainly admire the game, perhaps even more so than Oblivion, I find it hard to either enjoy it or get lost in the world. As an achievement, it should certainly be highly regarded, even more so than now. But when it is judged as a game, the execution is too poor to enjoy the great content inside. Bethesda has already shown, in my opinion, that they can combine the fun and immersion of Oblivion and the depth of Morrowind in Fallout 3. Here's hoping that Skyrim turns out even better.