Ehh, I can't say I'm happy. I mean, I'm pretty anti-social, so I don't really play MMOs. And what I've always liked about TES is that I could be left alone and wander around. Don't get me wrong, I thought it would be cool to have PvP or multiplayer battles in the arena, or be able to clear out dungeons with a friend, but making the whole thing a full blown MMO doesn't bode well with me. I guess I'm just afraid its going to turn into WoW.
However, I'm still going to buy it the day it comes out, especially if it has Fallout 3's gore and dismemberment system. TO HELL WITH MORE VOICE ACTORS, I WANT SEVERED GOBLIN HEADS!