I hope it looks a lot better than anything in FO:NV. I've got it, and even with graphics set at the Ultra level, I still think the whole thing looks pretty bad by today's gaming standards. I can't say that it ruins the game for me, close, but it doesn't do it any favors.
And for that reason, I hope nothing at all in Skyrim remotely reminds me of FO or I'm going to be highly disappointed. With a different dev team than NV and a new engine taking advantage of today's technology, I doubt that it will, and I guess we'll know within a couple weeks, but I'm still having nightmares. Seriously. I had a dream not long ago that I was playing NV but I had a sword, and it was Skyrim. I woke up in a cold sweat. Even worse, I had another dream that I was playing Skyrim, and the graphics were [enter buzzword] stylized. I woke up projectile vomiting. It wasn't pretty, in any sense of the word.