"Developed by the team at Zenimax Online Studios, The Elder Scrolls Online merges the unmatched exploration of rich worlds that the franchise is known for with the scale and social aspects of a massively multiplayer online role-playing game. Players will discover an entirely new chapter of Elder Scrolls history in this ambitious world, set a millennium before the events of Skyrim as the daedric prince Molag Bal tries to pull all of Tamriel into his demonic realm." -GameInformer
Graphics and style aren't bad, combat looks different, 3 faction PVP... is nothing like TES aside from the level design and story, but I'll play it just because it's different.
Hopefully this game won't have a subscription like Guild Wars 2, or else it won't have enough players to make the PVP balanced or fun.
Sadly, I don't think the 2nd Era has Crossbows. XD