My reaction, basically...
Seriously, though, I am completely psyched for this! Having been brought into the Elder Scrolls by Morrowind and then following with Oblivion, I am sincerely hoping that Bethesda has learned it's lessons and is taking the best bits of both Morrowind and Oblivion and putting them together.
And hopefully getting rid of the leveling system they've been using. Seriously, just give me experience based on what I kill! Please!!!
Oh, and a better storyline for the Dark Brotherhood. Then, I'll be satisfied!