We're on hand at E3 2005 and have had a chance to sit in on a demonstration for PC version of The Elder Scrolls IV: Oblivion. The new game will be the follow-up to 2002's Morrowind, but according to executive producer Todd Howard, "the key to each Elder Scrolls game is reinvention." That is, with Oblivion, as with the previous games, Bethesda has thrown out all the old content and technology it had previously used, and has started from scratch with an all-new next-generation engine that takes advantage of advanced lighting and shader routines like high dynamic range lighting and specular mapping to create a highly detailed world. The game has been in development for about three years (production began right around the time that the team was finishing up Morrowind) and it looks extremely impressive so far.