It seems GamesPlanet have managed to get an interview with Pete Hines, Bethesda's Vice President of PR and Marketing. Naturally they're poking about for some info on Oblivion. Not a terrible amount of new info is revealed, but it's worth a read nonetheless! During the interview they cover: Storyline, Quests, Radiant A.I., some brief Class details, further Construction Set details, some info on Flora and Fauna, and some brief info on Fast Travel.
Also, Pete Hines is quoted as saying that players won't be allowed to "create weapons from scratch". He seems to make a point of emphasising that that won't be possible with weapons. But he doesn't say anything about armour...
Linkie.
Enjoy!