I saw this earlier, it looks SO good, and since it's from Bethesda I'm like 500x more excited for it.
edit - the game isn't being devloped by Bethesda, only published, Arkane Studios is developing it. The games they have made are:
Arx Fatalis (2002)
Dark Messiah of Might and Magic (2006)
The Crossing (TBA)
BioShock 2 (2010) - design assistance
Dark Messiah wasn't a very good game, I don't know what arx fatalis is and BioShock 2 is considered a lot worse than the original. So... we will see.