I can say it is on the existing platforms, which we're really happy with. You almost feel like you have a new console when you see the game.
How other characters behave and look on the screen is the next thing people need to do better. There are people doing it really well, but by and large the environments look good and it's just getting people to behave in those environments better.
Found http://www.eurogamer.net/articles/2010-08-16-bethesdas-todd-howard-interview
So there we are, directly from Todd Howard, director of Skyrim, on what the game will look like. If you're still wondering, well it'll look like other games. Because they're all built off the same consoles, and everyone that makes shiny things shares stuff with each other. Heck there's two entire conferences every year dedicated to game dudes showing off to other game dudes how they built their games. Anyway, good examples are:
http://www.youtube.com/watch?v=Kgogah1INcY
or maybe
http://www.youtube.com/watch?v=QAxoBTgytEQ
or maybe even
http://www.youtube.com/watch?v=JhcDQvFedlE
And we'll get screenshots soon enough.
Edit- Bethblogger say "It's all new!" https://twitter.com/Bethblog