Having played the demo, it isn't bad. The graphics are commendable, using bloom to good effect, and the skill system isn't bad either as you can craft your playing style. Also, you can play around with the enviornment alot to get rid of enemies.
The main problems I saw however is that it doesn't feel quite as epic as oblivion as the game runs along a set path, and the AI definiately needs some work, as although they do throw things like crates at you and try to grab you, they keep doing the same attack after attack.
For example, I was at a bit where I kicked an orc down some stairs onto another orc, and it kept trying to come back up the stairs, even though I kicked it down them about 4 times in a row. They just seem a bit too all out attack rather than minding the enviornment or themselves and not Revolutionary as the game claims to be.