Looking forward to this. Hopefully it's a bit more challenging than Oblivion though. Also hope the character creation is a bit more detailed - more races etc. More skills would be good as well although that seems unlikely.
There's a link to an interview in this thread in which Todd Howard says the engine is based on Fallout 3's tech.
Bethesda tends to toy with words and they're not being very clear here. I hope this means they reworked back up from base Gamebryo like the transition to Oblivion, but I fear Dhruin might be right and it might just be a heavily reworked Fallout 3 engine. That would be bad.
I just hope they care a bit more about the very serious crash issues so many people have reported having on PC with their Gamebryo games.
Morrowind, Oblivion, and FO3 all used the Gamebryo engine, so that's at least 3 game I know of that Bethesda made using it.
I haven't heard anything about any new tech. Afaik, Bethesda is using the Gamebryo engine for Skyrim as well. I assume it will be modified once again, as they've done each time so far.
Actually I think that would be good - The FO3 engine worked pretty flawlessly for me, and I don't remember many problems in general. FO:NV showed what focussing on content instead of tech development can do for a game (plus actual talent, of course). I wouldn't mind seeing another handful of games on that platform. The point is moot though, even if the game is still rooted in the Gamebryo technology, it will be the next iteration, at least as different from FO3's as FO3's was from Oblivions.
You'd think if we're 11 months from release that we should start being bombarded by stuff after the new year. This is big news and all the paid advertising sites will want "stuff" from Bethesda.