Eh maybe I'm being pessimistic but it seemed all bad news.
No spears.
Not bigger than Oblivion.
Removed class system.
Removed customized magic.
Less options when creating character.
List goes on and on =(
He said they don't know about customized magic. He didn't say it's not going in. He also said you'll have more specific ways to customize characters rather than the "random button = ugly button" as in Oblivion even if technically there are less options/sliders.
How is the removal of the class system bad? I thought the podcast did quite well how just letting you develop your character with skills and perks as you progress makes more sense than an NPC randomly asking your class 30-45 min into the game.
You're right that spears sound unlikely, however he also described how the world will feel bigger than Oblivion due to the mountains. In addition, he mentioned how the different areas will be more distinct than in Oblivion, and how the architecture "will not look as if everything was pre-planned and built at the same time." like the Oblivion towns were.