How estatic were you when Bethesda announced Elder Scrolls V? We won't even try to capture those feelings in words. If you missed the teaser released pre-holidays, you should probably take a moment to check that out right now. Moving on, first concrete details have finally emerged by way of Game Informer magazine, and the changes Beth mentioned are quite interesting.
Story-wise, Skyrim is set 200 years after Oblivion, when the dragons return and civil war breaks out. Boo, nobody likes civil war, but it's an effective plot device so we can dig it. You'll be running around an area north of the Imperial City, split into five main areas with all new dungeons to explore and nasty things to kill.
In combat, each hand will have a specific function, like throwing around magic, carrying a sword and shield, or dual-wielding. Combat should feel much improved overall, and enemies will be scaled by the player's level and other random elements.
Classes have been dropped for a more Fallout 3 feel, with customizable stats and unlockable perks as you level. Not all that different if you decided to create your own class in Oblivion anyway, though the number of skills available to players has been reduced to 18. A few other features that were mentioned include randomly generated quests, an HUD-less first-person view, sprinting, and dynamic weather (like snow).
Elder Scrolls V: Skyrim will be fulfilling all your fanboy dreams on November 11, 2011.