I'll try and not post anything that's been posted before, unless it elaborates on something that was said before.
85 spells overall, some are just variations on a spell(simple fireball, fire spell that is like a flamethrower, etc.) "Set two completely different spells in either hand, or put the same spell in both hands, letting you combine the spell to extraordinary effect."
Also not sure if it's been mentioned, but whatever skill you use(one-handed weapons, illusion magic), that levels up the more you use it, and contributes to your overall level. As opposed to Oblivion where you just pick 3 skills and those are the only thing that can level you up. Also raising a skill from 34 to 35 will level you up faster than raising a skill from 11 to 12.
Perks: Each level brings the choice of a perk, one of dozens of special powerups tied to the 18 skills. These perks may increase the damage of your dagger during stealth attacks, your mace ignoring enemy armor, etc.
There are 50 levels for you to get(as opposed to 25 in Oblivion/Fallout), but it's in the same amount of playtime, and you level up way faster in the beginning. "Even after level 50, players will be able to continue gaining new levels, but the process will be dramatically slow."
Melee battles feel heavier, have finishing moves. Bows take longer to draw back, but more powerful. Can't just backpedal like in Oblivion.
The menu system sounds cool too. The interface is like iTunes with the scrollable albums, and the screenshot that shows the skills, each one is visuall represented by a constellation.
Dragons sound awesome. "...signs that the dragons would be returning were laid out in the predictions. Shattering of the Staff of Chaos(Elder Scrolls Arena), appearance of Numidium(Daggerfall), volcanic Red Mountain(Morrowind), opening of the Oblivion Gates(Oblivion.)" "Dragons won't be some legendary concept left dangling before players until the end of the game. Dragons are real and regular threats in the game world. They fly into battle at unexpected times. They ravage towns. They wield awesome power. And you'll have to face them repeatedly in single combat."
Also each dragon you kill you'll earn abilities called dragon shouts from their souls. One sends foes hurling away from you, another slows down time. Another is spoken quietly as it allows you to go from one place to another instantly, and one is an actual dragon that comes to your aid in battle.