I would give it a solid 8 out of 10. The only drawback for me has been the main storyline that has been very average so much so that I haven't bothered to finish it yet. The side quests from the various factions however are very good.
I'd give it an 8 as well. The quests are super lame. I'd say a good 75% are randomly generated ones with just some shitty dialogue at the start. Even the bigger ones just don't match to New Vegas and it's many options in finishing them. Other than that, it has a lot of potential (at least the PC version), once the modders get their hands on the toolkit.
Eh, well the graphics are definitely better. Faces no longer look creepy as fuck. It probably has a little more variety in dungeons, even though there is still a lot of repetition. It has more than 5 voice actors, and people generally have more to say. The cities look a fuckload better. Each has a distinct style, while Oblivion was more or less just copy and paste. Combat is prolly a bit better, but it's still just as easy to break. I guess the games are still very similar overall. Each has some advantages over the other. Skyrim is probably beats it overall I guess.
I started playing this today. Only did the first mission (if you can call it that). It was alright. Not a BIG fan of these types of games, but I am determined to give it a fair go before throwing it away.
Yeah, my biggest disappointment is how static quests are, and how little option you have. For some reason I expected Bethesda to learn from Obsidian's example and give the player a bunch of different outcomes for quests. Foolish of me, really.