This is the transcript of Todd's answer typed up by Vamphaery
We work on it together. The main thing for people to know is our background is PC games. The game is authored here on PCs. That's what we work on. A lot of the team is playing the game on PC all day. We do want the platforms to each have a really, really high level of fidelity. I personally play a lot on the Xbox. It tends to be my preferred platform. We do a lot of graphics development still FIRST on the Xbox, just because it's smoother. And then a lot of that stuff does go over to the PC. We tend to do as much as we can as the project goes on, because we want to support as wide a range as possible. We also tend to do that stuff late, because right now we want to work on the main game and how it plays and getting the graphics fast everywhere, and then as the project gets closer to release we start supporting all those other things. You'll definitely be able to run the PC on a much higher resolution. All of our games that we've done so far - Morrowind, Oblivion, Fallout - the PC versions have higher res textures they ship with by default. A lot of times you don't notice that, because when you play a console game you're sitting six to ten feet away from the screen. Whereas on the PC, you're sitting a foot, two feet away from the screen. Those kinds of differences in texture resolution, you don't notice unless you're looking at two screenshots on a computer and flipping between them. We are gonna support that stuff. I can't say how far. But the same thing with the interface. We do a lot of PC interface stuff. There are uniquenesses [sic] to how we handle it on the PC."
He's saying that the PC versions of Oblivion, Morrowind and Fallout 3 had
higher res textures than the console versions, which may be true, but they were still such low resolution that hi-res textures needed to be created by modders in in order to make the game look great at 1920x1080.