Just received the Bethesda newsletter I never realised I signed up for (and have never received before) which has got a few "new" screenshots and tidbits of information from Brendan Anthony.
Brendan goes into some good depth regarding magic in Oblivion and it's a good read for anyone who will be specialising in that school of combat.
QUOTE
one of the first things that you will notice about magic in Oblivion is that it is relatively similar to what we’ve seen in previous TES games. The spellmaker is there (Mages Guild members only!), we have kept the same six magic schools, and there are still a ton of magic effects and enchanted items. There’s lots of new stuff too, as well as many improvements to the feel of the whole system, but as far as basic functionality the idea is evolution over revolution.
To read the full article click here.
Happy reading.