First impressions (playing at 1920x1080, with everything to max):
The game is pretty, but it's not phenomenal looking either. In any case, it's certainly a nice upgrade from the original Gamebryo engine. The character movements still feel a bit awkward (although a billion times better than Oblivion or Fallout 3 if using 3rd person view), some of the physics are clunky and the shadows are ugly. Like in Oblivion, distant lands are quite "soupy", although not as bad. FOV is not very optimized for 16:9, should be wider but I'm sure it's an easy fix with all the options in the .ini files.
Hitting a foe doesn't really feel as it should, because there is barely any recoil, the enemy doesn't seem affected and there's only a bit of blood splatters to indicate that you're hitting him/her.
There a fair amount some mouse lag, and the fix that I suggested above actually seems to make it worse, so changed it back to the default setting for now (with vsync enabled). There is a bit of stuttering though.
The on-screen hints don't seem to adapt to any changes you may make to your controls, so it instructs you to use default keys that you may have changed and it took me forever to figure out how to drop items from the inventory...Speaking of which, the inventory is now much simpler but very cool, and you could see and rotate anything that you have in it.
I got a first crash to desktop after almost 40 minutes in...

Not 100% convinced for now, but I'm sure that a few hours in it will suffice to make me addicted again.