"Gone is the restrictive class system of earlier games"
-Matt Miller, Gameinformer February Issue.
I don't see how the class system from earlier games qualifies as "restrictive", seeing as your class really didn't effect your options at all. Your major skills started higher and let you level up, but you could still raise your other skills to 100 and get the same amount of effect out of them. I think major skills also increased quicker, but that just meant you needed more effort to raise those skills that were not part of your class, it did not actually restrict you in any way.
I'm not bothered by thwe act of removing classes, though, because honestly, classes in the Elder Scrolls haven't really made that big of a difference. Removing it would just seem like the next logical step. And there have been many RPGs that don't have classes and seem to work pretty well (Fallout, for example.) so it's not like Bethesda is doing something completely new and revolutionary by removing the class system. Now, I'm not sure if I'll like the overhauled character system or not, because I've yet to play it, and with this sort of thing, sometimes you really can't tell if something is good or not just by hearing about it, sometimes, you just need to try it yourself.
My biggest problem with this is that I can't name my class anymore.
I honestly don't care, half the time, I didn't even bother to name my classes anything other than the default "Adventurer" anyway.