I gave in and got it. A few quick toughts
-This is indeed a very shoddy console port. My rig can handle maxed Crysis 2, Bethesda, it's not my fault if there is ANY lag, period. The interface is also a prime example of looks over usability (at least on PC) but learning to only use WASD helps. having to dig through .ini files to edit settings in a AAA release is ridiculous. And the textures, Lord the textures... Some of the are straight from Morrowind, even for a console game this is frankly not acceptable.
-As others have said, RPG elements are so bare-bones it's hard to classify it as one, even despite my own rather loose interpretation of the term. Writing has improved a bit (going from horrible to standard fantasy fair), and so did voice acting (I noticed the voice actors of Dragon Age 2's Fenris and I swore I heard Bob Page from that Dark Elf in the Companions). But with so little stats to work with and so uninteresting perks (your power attacks take 25% less stamina, yay! Depth!) it's hard not to call it an action-adventure.
-On the plus side, so far Beth's world building has vastly improved. The atmosphere is really good, it feels much less fake than Oblivion (talk between NPCs seems much more tightly scripted, they talk about things relevant to them, no more seeing mudcrabs the other day, even if said mudcrabs are indeed in the game). Most dungeons I have visited have some sort of unique gimmick (non-hostile blind old man at the entrance, for example) and they all seem to be unique in layout. Some of them are even infested with Trolls that can rip you apart bin seconds. The vistas are nothing short of magnificient. Big, big kudos for that, Beth.
-Combat is better too; melee has more weight to it (with two-handers at least), the finishing moves are quick, not too flashy and uncommon enough that they remain fun, archery deals more damage so that only boss level enemies end up as pincushion, and magic I haven't tried yet, but it seems pretty fun to combine spells.
That'S it for now. The game has the usual Beth flaws and then some, but underneath it is easily a better game than Fallout 3 or Oblivion. Hope it stays that way.