Don't know really, you can always improve on a game not matter what it is. I would rather them release now and improve through updates and DLC on 11/11/11. :foodndrink:
Physics all ways adds a sence of realism to the game... couldnt hurt to make it better than what it is I supose, but I am happy with what Ive seen so far mind you ^_^
Oh yah forgot about that one, I added it to the Spears and such answer.
But really? thats what you want to see the most? REALLY???
Bethesda can't tease us with awesome http://www.gameinformer.com/resized-image.ashx/__size/610x0/__key/CommunityServer-Components-UserFiles/00-00-43-74-42-Attached+Files/7271.skyrim_5F005F00_s_5F00_argonian_5F00_drawing_5F00_by_5F00_xxxbanditxxx_2D00_d383uyh.png and then give them human legs.
A lot of your stuff couldn't be done no matter what time period they had to work on it. There can't be Crysis 2 graphics in an open world game yet. They have loading screens for a reason. Better graphics means smaller map right now. Nobody has a pc that could handle a game that's too big. Physics would need an entirely different engine. Game engines do different things. Bethesdas happens to do things this way.
The other stuff we don't even know about yet so we can't compare.. we have no idea how many quests there will be or character interactions will play out or how much content there is compared to oblivion. Just because a game world has a set size has no bearing on the content. They could make a game world that spanned 1000 miles.. .. and then had one fetch quest.