Can't vote. Because I disagree with the premise
Will the fighting be, slash, slash like OB? Or slash, block, finishing move?
Oblivion was only "slash, slash" if that's all you did. But you can also have "slash, block, finishing move" (ie finishing ove - power attack) in Oblivion. And you can have more more creative melee combat by taking into account things like terrain and local layout, etc. Oblivion melee combat was actually very good I think.
As far as graphics, Bethesda has a track record for state of the art graphics and beyond. At release Oblivion was spectacular. So was Fallout 3 in most cases, which improved graphics significantly from Oblivion. Fallout NV didn't improve graphics much over Fallout 3, but it wasn't really a Bethesda developed game. So yes I think Graphics will likely be as good or better than any game available at the release of Skyrim.
...As for combat, everybody goes how Oblivion was just mindless hack and slash. That's not true,...
Just read this after I posted. I obviously completely agree. Oblivion was not mindless hack and slash, unless you mindlessly hacked and slashed. Poor Oblivion, it gets so many unfair criticisms.
That said, I'd expect Skyrim will improve upon Oblivion (and Fallout 3) combat.