Does anyone know if Bethesda is working on it? Or have they put it on the back burner in favour of the Fallout series? I would much rather see a new TES game over a new Fallout game. I love both series but TES, IMO, is the Crown Jewel of not only Bethesda but RPGs alltogether.

Perhaps you should read through the TESV speculation thread somewhere below your own thread, the first post sums up what is officially known about it

We have no real concrete evidence that TESV is in production.

There is a TES V Speculation topic for this kind of question - although it is answered within the OP.