Game Informer thinks so. In celebration of their 200th issue they counted down what they agreed on as The Top 200 Games of All Time. Within the list Oblivion placed at 30, Fallout 3 placed at 65, and Morrowind placed at 101.
I know there isn't much to discuss, and I apologize if this has been posted already, but I just found it interesting and thought I would post it.