Also, this leads me to believe we will have an Oblivion style of skill, where every starting character is somewhat capable with everything...with every Skill performing at what in Morrowind would have been 20-25...
That's not true. Remember that Skyrim will use perks (and apparently, from looking at the screenshots, LOTS of them. I mean 12 or so per skill) to enforce a "class" system. Say you take a lot of skills related to maces under one-handed weapons. Well, even though one-handed weapons govern all one-handed weapons, you will most likely reach a point where you do really well with maces against enemies, but attempting to use other weapons (whether they be under that skill or not) will most likely get you killed, because the game was made to EXPECT that you took perks. If you attempt to use skills that you don't use often (low leveled), they will also lack perks. Thus, you will have a decent chance to fail at whatever you're trying, because the game expects that you should have perks of some sort when you attempt something.
It's sort of like going to a gunfight with a knife. You know a lot of tricks with your gun, but you both have no clue how to use your knife and no cool tricks to do with it, while all your enemies are dual wielding and shooting hollow points at you while doing windmill kicks.