Thanks to Sothis over at the elder scrolls forums :)
http://www.elderscrolls.com/forums/index.php?showtopic=162105

* = Notes available at the bottom of the list.Yes List

( Things that WILL be in the game )

• 1st and 3rd person views
• 1200+ Unique NPCs*
• 121 Plant Types
• 150+ Quests
• 16 Square Miles ( Excluding dungeons and oblivion )
• 2 Mini-Games ( the persuasion mini-game and the lockpicking mini-game. )
• 200+ Dungeons*
• 200+ Hours of Gameplay
• 21 Skills
• 400+ Books
• 6 Factions/Guilds ( The Arena*, The Blades, Dark Brotherhood, Fighters' Guild, Mages' Guild, Thieves' Guild. )
• 7 'Big' Battles
• 9 Major Cities*
• 9,000 Objects ( All of which are movable, and react accordingly with the environment. )
• Ability to Purchase Houses ( Every major city will have one. )
• A Quiver ( Container for arrows you wear on your back. Arrows also get removed from the quiver when you use them, as expected. )
• Birds/Butterflies*
• Borders*
• Cast On Strike Enchantments
• Compass ( Will only show places 'close' to the player )
• Decoration ( For Your House(s) )
• Dynamic Weather and Time
• Essential NPC Indicator
• Events/Festivals ( Official mod said to be downloadable for the X-Box 360 and PC )
• Evidence Chest ( When you're arrested all of your belongings end up here in jail )
• Fast Travel Map
• Forced Reload*
• Full Character Voice Acting
• Hooded Robes
• Hoods
• Horse Armor ( Official mod said to be downloadable for the X-Box 360 and PC )
• Horses and Dogs ( Pets. 5 different types of horses. )
• Improved Combat*
• Interactive Jail* ( You'll actually serve time and will also be able to escape a number of different ways )
• Light-and-Shadow Based Sneaking
• Poisonous Weapons ( Ability to use ingredients to make poisons you can apply to bladed weaponry and arrows. )
• Races from MW ( Imperial, Nord, Breton, Redguard, Altmer (High Elf), Bosmer (Wood Elf), Dunmer (Dark Elf), Orc, Khajiit and Argonian )
• Radiant AI*
• ReAnimate ( Possibly an Item or Spell that allows you to revive defeated monsters and have them as followers. )
• Red Hand ( a hand will turn red if an item you're looking at belongs to someone )
• Respawning of Some NPCs ( Guards and Bandits )
• Sitting/Lying down
• SpeedTreeRT Technology ( Realistic trees and vegetation )
• TES Construction Set ( PC Only )
• Traps ( Physic based booby-traps )
• Traveling NPCs
• Vampires*
• YieldingNo List

( Things that will NOT be in the game )

• Aging ( in-game aging of the player character or NPC's )
• Banks
• Capes/Cloaks
• Cast-On-Use Enchantments ( Except for staves )
• Children
• Cliff Racers ( I'm quite pleased that they won't be in )
• Climbing
• Combat Staves
• Crafting ( Forging Weapons/Armor )
• Crossbows
• Dismemberment ( Hacking apart limbs of NPC's )
• Dual Wielding
• Experience Point Leveling System ( This is a good thing )
• Imperial Legion or Nine Divines ( Able to join them )
• Jobs ( Non-Quest Employment through an NPC )
• Locational Damage
• Locking of Doors ( With a key )
• Making Traps
• Mercenaries ( NPCs you can hire for assistance in combat )
• Mounted Combat
• Multiplayer
• Thieving of Your Possessions* ( NPC's stealing from you )
• Throwing Weapons ( shurikens, darts, throwing knives. )
• Terrain Destruction or Deformation
• WerewolvesMaybe List

( Things that are unknown )

• A Giant Flying Apple ( that shoots puppies with twizzlers for tails and exploding eyeballs. )
• An Appearance Of MW NPCs ( Such as Fargoth or Caius Cosades )
• Breaking Down Doors ( Smashing through a door with a melee weapon )
• Clocks ( In-game item clocks that indicate what time it is in the game world )
• Dragons ( I don't 'think' so. )
• Mark and Recall ( Said to 'not' be in )
• Naming of Pets
• Sinking In Water ( Of Objects and/or Yourself when overweight )
• Sleeping Anywhere You Want ( Sleeping will be restricted to taverns and camp sights )
• Spears ( Just for the sake of argument )
• Whips, Flails, and Chains

Notes List

( Some side information about the various facts listed )
1200+ Unique NPCs: By unique I mean that any number of bandits/guards/etc. that are the 'same' will equal 1 NPC, if you can disprove this statement please do, but that's how it is with most games.

200+ Dungeons: The dungeons will be darker this time around, and have more diverse and ambient lighting.

9 Major Cities: Fully Identified Cities ( Imperial City, Chorol, Anvil, Ceyindal, Kvatch. ) The rest are educated guesses.

Anvil - West (Port city, Italian style (OXM))
Bravil - ??? (Suspected South) (run down buildings (interview))
Bruma - ??? (Suspected Northern Skall Village) (blue church)
Chorrol – North West (Classic Imperial style, church with green window (full map in OWM))
Cleydinhal - ??? (Suspected South) (paradise pond & wooden building (OXM))
Imperial City - Central (Capital, 2.5 x Vivec, ~100 NPC’s, stone roman style building with green cooper domes)
Kvatch - West (destroyed city in video (trailer))
Skingrad - West (suspected tall stone buildings (PC Gamer))
Sutch - West (suspected yellow fort from video)

The Arena ( guild ): You'll be able bet on and participate in fights.

Birds/Butterflies: Seen in the demo. ( The scene in the demo showed a Blue Butterfly? There could possibly be birds if they're paying enough attantion to detail to include butterflies. )

Borders: Borders are invisible walls that prevent you from going into nothingness these borders will be comprised of Rivers, Mountains, etc. and other times will just be noticeable invisible barriers blocking your path with a message telling you to "go back" Additional Note: You'll be able to see landscape 'beyond' them so you don't feel awkward.

Forced Reload: If you happen to kill an essential NPC, Oblivion will force you to reload a previous save or start a new game. Additional Note: there will be an essential NPC indicator so you don't make a mistake.

Interactive Jail ( Escaping ): Picking the lock, stealing the key from the guard when he walks by, starting a fight with the other prisoner so the guard investigates, bribing the guard ( possibly ), waiting until the other prisoner is to be released and then run out of the cell, using telekinesis to get the key, etc.

Improved Combat: With the new combat system implemented you'll be able to manually block, attack quickly, or use one of the five 'special' or 'super' attacks all of which have their own benefits when fighting. Additional Note: Also this time a hit is a 'hit' there is no dice roll for hitting or missing, it only does 'rolls' on your stats and skills to determine what damage is done to your enemy.

Radiant AI: NPC's will be more lively, with 24/7 schedules, and other various aspects such as reacting to the PC's race, clothes, choice of words, etc.

Thieving of Your Possessions: You may not understand quite what I mean here so let me explain.

• NPCs CAN Pick up items around them ( Including items you leave for them to potentially pick up, even horses. )
• NPCs CANNOT Pickpocket you ( Because the developers thought the player may confuse losing an item as being a bug )
• NPCs CAN Possibly take items from your house(s) ( BUT, NPCs will not enter your house unless told to do so. )
• NOTE ( PC users ): All of it can be changed in the CS.
  Vampires: If you should become a vampire you'll still be able to continue the main quest, possibly everything, except that you'll be required to stay out of the sun and get your daily helping of blood.