PC Gamer UK (a gaming magazine I actually *like* to some extent) has the latest review, with a final numerical score of 93%.
In summary, Oblivion is:
1) Narcotically addictive
2) (Gasp!) Emergent
3) Brutal
It's not:
1) An AI revolution
2) A grind
3) Perfectly polished.
From reading the review, it actually sounds promising. The reviewing actually manages to make the questing sound intriguing, instead of just downright nauseating (though that may possibly be the writing incompetence of other fanperson previewers).
The low 90% instead of high 90% is due mostly to NPC-NPC conversation, which is apparently horrible. Here's a short excerpt:
This, of course, isn't a surprise at all, if you've ever seen footage of the game. The NPC conversations have sounded consistently bad in those. On the other hand, there hasn't been much revealed in terms of writing as it pertains to actual story/quests in those clips, so maybe we could end up being pleasantly surprised. Depending on how good 'excellently written' turns out to be, this might even potentially be a game worth considering. If, of course, the quality is enough to make me overlook the forementioned horror. Blatant mockery turns into cautious skepticism. We shall see.