For Oblivion, I think it's pretty much cemented that it goes PC (decent PC, anyway)>PS3>Xbox 360.
With the PC version, hardware varies so it's difficult to pinpoint exact capabilities, but depending on one's hardware, one could crank up all the settings to high, play the game at a 1080p resolution, and do it all at 60 fps... perhaps even with some nice graphical mods. The PS3 version follows it with it's full 720p (HD) resolution, noticeably shorter load times, a farther draw distance, and better texture filtering than the 360 version. The 360 version runs at a sub-HD resolution (600p). So, both performance-wise and graphically, a decent PC running the PC version will beat the PS3 version which will, in turn, beat the 360 version.