Whatever Bethesda makes it has to also work on Xbox 360 and PS3, like Fallout 3 the PC version will just be a polished version of the consoles art assets. If they build the game around 2010 technology, even prevent day technology in fact, you will have something that won't run on consoles.

For a cross platform game that is unacceptable, everything from level design to poly count has to work across all three platforms. In 2010 a console orientated game on PC will feel like they ported over a PS2 game, it would be like if Oblivion was designed around the same hardware performance Morrowind was; which is essentially what will happen with TES V.

Hope they really don't intend to release within this console generation :( if they continue down Oblivion's rout; graphics will be all it has going for it.

AnnoyedDragon

If you develop for the consoles first, and then port it to the PC, yes, the graphics will simply be polished versions of the consoles. Though if they develop it for PC first, then the sky's the limit. And from there on, they can strip the graphics down to how low they want it (that "how low you want" would be to suit the hardware specifications of the consoles).