Elder Scrolls Online cover story have already begun appearing online, it would seem. The game has been in development since 2007 by a team of 250, according to a post on NeoGAF. It will feature full voice acting throughout and will be played from a third-person perspective (generally not the most efficient way to play previous Elder Scrolls titles). As mentioned in yesterday's announcement, The Elder Scrolls Online takes place 1000 years in the past and will span almost all of Tamriel, though certain areas are being saved for the purposes of future expansions.
Zenimax Online is reportedly doing its best to strike a balance between the Elder Scrolls series and traditional MMOs, trying to appeal to players of both. In other words, yes, expect to use a traditional MMO hotbar to access your skills. You can also expect epic player-vs-player battles – up to 100-vs-100 in some instances – as factions compete to take over Cyrodil's Imperial City, with the winning faction installing its greatest champion as emperor. The NeoGAF post has plenty of other details and, of course, July's issue of Game Informer has even more.