Far better. Oblivion was tons of fun, and Skyrim is too - but now I don't worry about leveling properly and I don't get frustrated with the combat system. I like the grittier Nordic style. I appreciate the streamlining, probably more than most people, possibly to the point of fanboyism - I am glad that acrobatics/athletics/attributes are gone. The issues I have with Skyrim? Crafting can be abused, and I've heard that the guild quests go by very quickly, but I haven't even gotten to the guilds much yet.
I like killing dragons more than closing Oblivion gates. Quicker, occasionally challenging (depending on dragon type and terrain), and more satisfying.
Not sure why, since a lot of people regard Oblivion as having a very ungenerous difficulty curve as well, but I never would just walk through the forest and die in Oblivion. In Skyrim (as well as the Fallouts), I did/do...