I'm lost as to why they just don't make the announcement, if they're working on it.
Economically, why isn't it such a big deal? Why couldn't they have told fans they were working on it a few months after Oblivion was released?
I feel the same way... they're probably under the impression that announcing it before New Vegas will affect its sales, but honestly... who is gonna go "oh ESV looks sweet, i'm not gonna buy NV and instead save my $60 for a year to get ESV when it comes out!"
Optimistic view: ESV is so groundbreaking that it'll make NV look very weak in comparison, so if people see it before they buy NV, they will trash NV for being behind the times. Even so, like I said, the two come out about a year away from each other, 99% of people are gonna get both anyway.
Pessimistic view: ESV won't be ready to release for another 2-3 years, so BGS doesn't want to announce it too soon, especially with Todd's comment that it'll be the shortest announcement/release window.
the technology they would have been developing for is now officially current with the release of DX11 so when ESV comes out it had better blow the competition out of the water, I am almost certain the game will be close to photorealisitic if not completely photorealistic. If Gran Turismo V can hit photo realistic on cars Bethesda can do it for environments.
Don't get your hopes up. Games like Gran Turismo and Killzone 3 are photorealistic because they're in much smaller environments. ESV is open world, so you really can't compare it to those games. And when Oblivion came out, the graphics were good, but not the best.
And even if they release screenshots of ESV being photorealistic, that still likely won't be how it will look when it comes out. I remember thinking Oblivion's graphics were amazing when I first read about it, but when the final game came out, it wasn't as good as they were made out to be. That's the case with most video games... their bark is bigger than their bite so to speak.
All that being said, there is no doubt in my mind that ESV will be groundbreaking and an incredible game. I will be first in line to get my copy. I'm just a pessimist by nature.