The features they're adding aren't completely unreasonable, so I doubt this will turn out to be another STALKER type of situation. Besides, Bethesda has delievered in the past. I was completely surprised with how well they pulled off Morrowind. And despite the fact that there were bugs, it was completely playable and I didn't personally experience any (ala Daggerfall, where they were everywhere even after the last patch).

Mulitplayer will NEVER be added to Elder Scrolls games. They've stated this time and again and its even on the website in their Oblivion FAQ. I kind of agree. It seems they want to create a uniquely personal experience for a single player and I admire that.

I think all the speculation we're making is a little early to say though. They're very good about listening to the community and fixing their game when it is either broken or not what the community wants. Of course, some of the fixes came in the form of an expansion pack, but I really liked the GotY edition myself. Hours and hours of exploration there.