No... it doesn't explicitly say launch game, but given the current state of the game and the fact that Bethesda has said it will be on next gen systems, one can only expect. Read the full interview... the game will kick ass!
http://www.gamebanshee.com/interviews/oblivion1.php
http://www.gamebanshee.com/interviews/oblivion1.php
GB: How long has Oblivion been in development and what section of the game is currently being focused on the most?
Gavin: Weve been hard at work on the game since just after we got Morrowind out of the door. No rest for the weary here! We started out by churning out huge documents filled with crazy ideas about how to make the greatest RPG ever, and then we chained our programmers to their desks until they made our ideas a reality.
Right now, were in full churn mode, with more features, quests, and locations coming available on a daily basis. Were starting to move beyond simply playing the game for bug testing purposes, and playing just for the experience of the game. Its an exciting period of development.
GB: Tell us about some of the new environments around Tamriel we will be adventuring through during the game. Any favorite areas you're working on that you can detail for us?
Gavin: I fully believe that even though were one of the smallest development shops out there, weve got some of the most talented artists in the business working for us. The stuff theyre churning out on a daily basis is nothing short of jaw dropping. As far as environments go, a major emphasis for us was to pull off real, fully realized forests. We dont feel like this environment has been tackled in a realistic way in games yet, so we decided that for Oblivion, we were up for the challenge. You can see in some of the screenshots weve released that were not just blowing smoke. Weve gone all out, with hyper-realistic trees, special shaders for shadow and lighting effects, wind playing through the branches, and more. And trust me, the shots dont compare at all to the experience of walking through these environments in the game.