The Elder Scrolls Forums (thanks Voodoo Extreme) has more on the recently revealed delay for Elder's Scroll IV: Oblivion (story). Here's the post from Bethesda Softworks' Pete Hines:

So Todd and I were talking last night and decided that we, or I, should post something on the forums to try and bring fans up-to-speed on what's up. So here goes.

In short, the game is coming out in early 2006 because it isn't done yet. We still have things that need to be done before the game is released. So we continue to optimize, test, balance, etc. We've already gone way beyond what we did in any game previously in playtesting and balancing this game. Way beyond. But there is work that needs to be done and so development continues to go on pretty much around the clock. We will not put out a more specific date until we are certain we will be ready then. Like system specs, we aren't fans of putting out info that changes later on and only confuses or annoys our fans.

We have a number of site updates planned between now and the game's release that we hope to do on a regular basis each week. We'll do the best we can to make it every week, but understand that sometimes PR/marketing stuff gets in the way of game development and so it has to get set aside sometimes for the good of the game (and the people making it). We'll be updating the Codex in stages, adding new concept art, screens, etc. in the coming weeks and months. We're open to doing another fan interview in the coming weeks as well to let you ask what it is you think we aren't telling you. In short, we aren't holding out on you, we just don't want to be done telling you about the game before it comes out.

We appreciate your patience and continued support and ensure you that your dedication will be rewarded with what we think is the best RPG you've ever played.