I've been meaning to pick up that game, how's the gameplay?
Is it similar to Fable?
I have never played Fable so I couldn't answer that.
It is similar to Fallout 3 though I think. They modeled a lot of the mechanics in Fallout 3 with what they did in oblivion.
I can just spend hours sneaking around in the dark through dungeons in oblivion shooting arrows in people from the dark. I love that part. They can never see my thief in the shadows!!