Regarding the dungeons, my understanding was that there will only be a few of the "epic dungeons that are 1-2 hrs in length."
However, I think he is talking about a quick runthrough on a lower difficulty setting.
After installing some overhaul mods for Oblivion, when playing on the highest difficulty setting, even very tiny dungeons last many hours for me to beat after dying and reloading many times.
I'm pretty sure that if Skyrim difficulty setting is tweaked just right, I will be dying just as frequently and even the smaller dungeons will last hours, just to make it through the battles with whatever creatures are inside.
He said that we couldn't really pick sides, racism is there for "flavor"
I think what Todd meant was that we can pick sides, but it doesn't lock us in to one side or the other for the rest of the game.
I'm still hoping there will be other faction quests that do force the player to make difficult decisions with later consequences (like if you support one side of the civil war, or one guild faction against another, then you miss out on unique quests, items, or spells from the other side, etc.), but after watching this interview, I'm not so sure.