Well expect the same kind of coldness from Skyrim. So far I'm not really impressed with the NPC conversations, nor has this game got any good twisting plots. Its more like get item x from dungeon A, now lets go find secret dungeon B, ect. And don't get me going about the random NPC conversations. Me walks into shop, me spends 1.000 gold on some nice equipment, me want to walk out of shop, shop owner shout's something in the trend of "No window shopping in my shop" >_<
Gameplay wise its Oblivion with only a few minor tweaks. They improved the magic system, but at the cost of being able to create your own magic. And the new killing blow animations are more annoying than a nice new feature. Dual welding and being able to switch equipment from left to right hand is quite a nice feature. Apart from that all which really changed is the environment.
Still its probably the best WRPG on the market so if your into that genre you'll have a game which will keep you going for quite some time. If your more of a JRPG type I would suggest considering if this game is something for you.
BTW I really wonder if the Ps3 and Xbox360 version are truly any different. I mean its not like anybody is going to buy both version to compare them, where its more likely that the hardcore fans of either systems have something to do with it. I mean I haven't encounters any problems graphic wise and I'm already a good 30 hours into the game with half the world map explored (dungeons not included).