If you love Oblivion you love this too (and more)
The only thing I didn't like was the horse riding. The camera position is not fixed and this is really annoying. You have to steer and view while riding. I always play 1st person in these games and I also want to have that view on horse. Next to that it is too bad that you still can't fight while riding a horse. They must have a reason on why they don't allow this but I don't understand it.
I got the game yesterday and played it from 16:30 until 23:00 and it was a great experience. already have the feeling I am lost again in the big world :)