You don't notice much, huh?
Let's recap;
Dynamic Snow.
Fire spell (particle movements.)
1h axe, how it looks (awesome btw.)
Skeleton/Lich popping out of coffin.
Overall look of dungeon.
Overall look of game in action besides the trailer.
Oh, and our first in-game look of the Compass.
That's quite a bit of stuff
Alright I didn't see the Skeleton/Lich thing the first time, that part is interesting.
The overall look of the dungeon is way too low res because it was on a screen being filmed.
An image of a one-handed axe that, while certainly cool looking, is fairly standard is hardly exciting.
It is barely gameplay and if Bethesda tried to make those few seconds in that quality an official release fans would rage.
We already knew about dynamic snow, however it is not really dynamic in that trailer as all we see is it floating down. No accumulation or anything like that that makes it dynamic.
The fire spell effects were already in the trailer at around the 1:32 mark
No matter how many times I watch that slowed version I do not see any sign of a compass. I see someone's computer screen, not a compass.
Believe I'm excited about this and I am waiting eagerly for just about any scraps, but even the Grinch left more than what was in that trailer.