Damn consoles. I hate what consoles have done to gaming. To all you who own consoles, I hope that that extra couple hundred dollars you saved was worth selling your soul and effectively neutering video games for.
In all honesty, while graphics card have gone a long way since 2006 and I truly expect my competent gaming rig to sweat in order to present me a beautiful rendition of Skyrim, it's not like we're not reaching something not unlike a bottleneck. Graphical fidelity development has reached a point that improvements are in minimal increments. NVidia and ATi are being forced to present alternatives to the good old graphical improvement, like 3D and multi-display.
I expect a MUCH better looking Oblivion on PC than what's been shown so far, but the fact that it's been mentioned to be an X-Box version, I'm OK with it. Actually, I'm better than OK. BAck in the day games were developed for PC and then optimized for consoles. The way it seems the game is being primarily develop for 360 and there will be a significant time to pump the game's graphics on the PC. As long as they dont go the cheap way like Crysis 2 and instead give the PC version the care it deserves, I'm sure it'll look way better than what we've seen so far.