If you like role-playing games buy this game.
The graphics are great (I'm running it with an ATI 800XL) and the world is huge.
Some of the drags of the first game have been corrected--map traveling comes to mind--to make another strong entry in the powerhouse series.
The quests are fun and the freedom that I've grown accustomed to in the series is in full force.
Everyone else out there has already written enough to fill a library concerning this game, so I'll be brief and say three things that bother me though:
1) Having mentioned the map traveling, its funny, but I don't particularly like it. Feels cheap--especially when coupled with the addition of riding horses. What for? Dungeons are moments away from any warp points.
2) The inventory system, as noted by a million others, has come to be the bane to my existence. I can't frickin' find anything! It takes too long to scroll through dozens and dozens of items just for a dang weak potion of healing.
Bethesda--fix this in a patch!!!!!!!!!!!!!!!
3) I have come to dislike the enemy level balancing. it's cheap to fight ultra-bandits at every fort. It never feels particularly gratifying to kill anyone either...
Still, the game is fun and bound to consume what would be lame TV time.