HI
I have been playing the demo for a days now. I've found that the gameplay, story etc. are very well crafted and the sound and visuals look great as well. Personally, I like the graphics and how the game has that old Gothic feeling - much better, imo, than Oblivion's very polished & shiny graphics.
I get the feeling that I'm immersed in a realistic game world in which my choices have real consequences. In Oblivion, I just get the feeling that I'm in somekind of - themepark ? - ??
I like nice visuals as much as the next one, but I like gameplay, story etc. much better.