Ok so we know that TESV will still be on both current gen consoles. A great decision I support fully. However will the engine scale to take advantage of the modern ground breaking graphics we have on PC. Primarily DX11. Tessellation could solve huge detail problems and geometrical pop in for the game. Not to mention DX11 is more multi thread friendly to take advantage of more CPU cores. Something Oblivion certain ally needed. I ask because Morrowind and Oblivion on max settings pushed out some amazing visuals. I would love to see Bethesda keep this tradition up. Make a scalable engine that can provide a awesome console and low spec PC experience. But also take advantage of high end PC effects.
P.S No matter what can we please not need a high res texture mod day one. Implementing high res textures isnt much to ask for.

Instead of having forts or cabins or trees in the distance pop in, why not always render a very simple mesh and the closer you get the more detailed it becomes via adaptive tessellation.