People actually knocking the graphics in this game? WTF? It's been said a million times, but there are no games out there with this much detail and this scale in a seemless world.
I'm more worried with whether or not the game is playable or not.

The bugs in Morrowind were pretty damn serious, making it unplayable in the long run. The fact that it could even be released in this state and never fixed through any kind of patch is just mind-boggling to me. I'd sacrifice a few trees if it meant I could actually continue playing the game after a few hours.
Hopefully they improved the quest tracking system too. Morrowind had hundreds of quests which were borderline impossible to track in that journal. So even if my old Morrowind copy could run on my Xbox, I'd have no idea what I was doing or what was left to do. If only those two issues were fixed, I'd grab a 360 in a second to play this game, shadows or not.