They sold it left and right: It's a new engine. It's a brand new reworked engine, etc etc... no, it IS just a new version of the same old engine, modded by Bethsoft or not, it' is what it is. It may look better, and the animations are nicer, but look at the telltail: the water. Yes, the current moves you now, thats awesome, but the same exact splash circles are there when your character moves in the water and the same exact "layer" between above and underwater is there. If they had a completly NEW engine, why would it have the same exact details as the last one?
If this is a "duh" that was realized long before release, please bonk me.
Having said all that, I'm going to go back into my livingroom and very much enjoy my new ES game!