My 4850 probably won't have much trouble, since my monitor is only 1360 x 768. I'll probably invest in some additional RAM, though, maybe a soundcard, since my onboard sound wasn't mixing very well with Oblivion.
Hoping to run Skyrim at it's full freakin' potential (1920x1080, 16x AF, 32x AA). Although at such high resolutions, I don't know if AA would be even needed, or is just a waste of graphics card resources. Thoughts?
32x AA would be complete overkill at that resolution. You certainly wouldn't need more than 4x at 1920x1080, but you'd probably be fine with it turned off.