"Pete Hines: No, no. I mean, Oblivion is such a big game, which sucks"

Can't argue with you there Pete, but I'm still keeping an open mind on the expansion. Judging by the construction set there's no technical reason why an interesting RPG module can’t be produced using the Oblivion engine. Bloodmoon was a quality expansion; hopefully the Shivering Isles will be up to that standard.