Graphics: The graphics are always a big part in a xbox-360 game, and Oblivion pulls it off completely, from grass textures, to the blood on your sword,or even the face textures on the hundreds of people that you meet you will be satisfied even on SD.
Gameplay: The gameplay for oblivion is just to unreal for a role playing game, the controlls are simple and easy, and magic is fun to obtain, from archery, and a warrior etc, Oblivion has at least over 200 hours of gameplay and hundreds of quests, dont want to follow the main quest? well go join a guild or two. Dont feel like joining a guild go do hundreds of pointless roaming or sidequests in oblivion there is just so much.
Battle arena: The battle arena is a nice touch to level up quicker and get more gold, i like the fact incase you get bored (rare) i have hours of mindless beating at the arena.
No online play: for Oblivion creating your own kind of charcter thing, i think online features would be nice, fighting other players, or trading something like that or a idea for a future game of the Elder Scrolls series.
i end the Review with a 9.5 a must buy if you like roleplaying, to much to do, and preety much a endless game buy this game now!