This is nothing to LOL about!
I dunno yet. It's Elder Scrolls, but in term of gameplay it will be more akin the traditional MMO than the regular series...not that I have anything against traditional MMOs, but I'd like to see more Action MMORPGS on the market.
EDIT: Still, I'd like to give this game a try. It is still unique in its own rite, and has some features that other MMOs don't, so it is, at the very least, worth watching.