If they're planning on this being an M rated game it better be a helluva lot better than Oblivion was concerning everything that quantifies an M rated game.
Bulletstorm is M rated and it hardly goes 10 seconds without a character cussing or making a lewd remark and if an enemy doesn't explode in a shower of blood that doesn't seem like more than the body should have in the first place, then something is wrong.
L.A. Noire Depicts very gruesome murders where the victim was found beaten to death and left naked in a park. and you run across psychopaths/pedophiles (who detail their "eccentricities" in disgusting detail) can you guess what it was rated? yep it's rated M.
Oblivion has a very minimal amount of blood and an option to turn it off no less, very little amount of reprehensible language... I don't even remember an obscenity being uttered that was worse than the word "Damn"... can you guess what it was rated? Nope it wasn't rated E or T... it was rated M.
My point is that if Skyrim gets stuck with an M rating I hope they take advantage of it and don't turn it into a "Rated M for Everyone" game like Oblivion.