i dont get people who claim that it cant get much better looking than oblivion.....seriously. are you guys playing on 5 year old machines or do you only play older games or do you always set your graphics sliders way to the left. i honestly dont get it. go play far cry 2 and tell me that oblivion is even close to that.
as for all the special effects......id love to see them but im not holding my breathe on it. everytime they release a new game they claim theyve made it better and its optimized and a whole new beast..........and we end up with another iteration of that crappy gamebryo engine. i seriously hope they are utilizing the iD people now that they are under the same roof.
global shadows and lighting
a decent physics system
not concerned about textures at all since those can be modded in
better animations
realistic water
better weather effects..........i think probably the best example of this is a mod called atmosfear for the stalker game call of pripyat...........it is the best use of weather i have ever seen.
my main hope is that they do what reality pump did and have different engines for each platform. they are all the same basic engine just different iterations. this allowed them to add lots of eye candy and stuff to Two Worlds 2 without handicapping it nearly as much for those consoles that have more in common with an abacus than a modern day computer.
i really wish they had pushed this off till after the next gen consoles. we wont get to see another TES game till at least 2018.