Out of all the games coming out this season, this is the one I'm most excited about. I love the Call of Duty series, the Assassin's Creed series, the Battlefield series, and I loved Arkham Asylum. But few games have stolen as many hours of my life as Oblivion and Fallout 3 and New Vegas. And I'm excited for the new engine. I hope the overall play style remains the same, but less buggy and crash-y. So far it looks fantastic.
BTW, I never played Morrowind. Would it be worth going back to after all these years?