Seti... Oblivion is very action orientated. Why do you deny it? Morrowind is, Daggerfall is, Arena is. Though some are less than others, Oblivion is one of the more action based. Perhaps just behind Arena. It's not neccessarily a bad thing, and I don't believe anyone has said there are no redeeming RPG qualities about it, either. TES has always been a good mixture of action and rpg (though, imo, Oblivion went too far to the action side).
Morrowind went too far on the RPG side as well, though. Roll-based combat was ruined when you re-load five saves just to get "Better rolls".
Don't get me wrong, I liked Morrowind better, but the combat was a no-go.