I hated Oblivion at first. It had some disastrous design flaws, so I actually hope they rethink the formula quite a bit. But anyway, then I got the PC version and started to mod the shit (literally) out of it. We are talking about 20 gig's of mod's here including graphics and game play improvements. Daggerfall has been the best game from this developer and even that was really buggy, since daggerfall they have just continued to dumb the franchise down. But with mod's you can restore some of that daggerfall glory! Things like...
No level Scaling.
High resolution mod's
Fcom convergence. (this alone improves the game tenfold.)
Diablo 2 like loot system.
Mounted Combat, expanded spells
Proper oblivion invasion.
Bringing the cities into the game world.
Decapitation combat system. the list goes on and on.
It then became one of the best games of all time in my eyes. But you have to be willing to put in the work. It also will bring your computer to it's knees and looks fantastic if you push it enough.
Anyway I guess my point is I don't see how Bethesda can do a sequel to oblivion, and top what thousands of talented modders have already done with their previous game.
But lets see.....
BTW The Witcher is a fantastic real modern roleplaying game. I havent played it for awhile but I dont recall "the beast" giving me any trouble. I will probably replay it in time for witcher 2