In regards to Morrowind or Oblivion being the best game in the world: yes, to both, in their time. But Morrowind's time has come and gone, and Oblivion's time is dwaring to a close as well. There needs to be a new best game in the world, and I think gamesas and/or Obsidian has what it takes to produce it; maybe it'll be Fallout: New Vegas, maybe it'll be The Elder Scrolls V, maybe it'll be some other Bethesda game; but Ubisoft has already closed themselves off from that with their drconian DRM which only serves to hinder legitimate purchasers of their games and does NOTHING to stop piracy; and while Blizzard has produced some great games in the past, they've been infected with the Activision virus and have really gone downhill, so I think gamesas is the #1 contender for the producer of the next "world's best game". I don't know enough about Bioware to make a judgment call on them.
Obsidian doesn't have a very good track record so I won't put too much faith in their hands.
BioWare is good. Beth could learn a thing or two from their good sense of character development and gripping story. But the games BioWare make seem to be one straight line after another. Yeah, the choices are cool, but I never get the opportunity to "turn left instead of right". That's why I always love open world games. Maybe I don't want to deliver that letter to Caius Cosades, I'm going to join the Morag Tong. Maybe I don't want to give the Amulet of Kings to Jauffre, I'll fight in the Arena.
Fallout 3 could have had a bit more options instead of simply hunting for Dad. Factions would have been nice. However, I still don't feel like I'm bound to the Main Quest, and that's why I love Bethesda's games.