Well, I'm pretty psyched for Skyrim, even though I didn't like Oblivion all that much. Fallout 3 definitely sold me though, so if they make the same level of improvement from that, it should be amazing. I think playing Fallout 3 first was the main reason I didn't like it, it seemed like a complete downgrade.
Edit: Oh, and my major reason for disliking Oblivion was the serious disconnect I had with the world. Horrible voice acting, samey map, uninteresting story, labyrinthine dungeons, but most importantly: Everyone looked like uncanny puppets, with weird squashed faces, and horrible animations. I couldn't believe for a single second these were actual inhabitants. From the brief footage I've seen of Skyrim it looks to be completely fixed, it looks smooth as an open world game can be, and everything looks and feels more solid, like the players and inhabitants have weight in the world, as well they should. So yeah, by "feel", Skyrim already looks leagues ahead of Oblivion.