A lot of speculation has been making the rounds, while some have even been taking shots at Bethesda assuming that The Elder Scrolls V: Skyrim would once again use the Gamebryo engine. Comments on the forums and twitter bely the idea that the game uses the Oblivion/Fallout 3 version of Gamebryo, though it is not immediately clear what exactly it does use (an updated version of Gamebryo or another engine). From Matt Grandstaff.
It's an all new graphics and gameplay engine internal to BGS, and it looks incredible.
From BethBlog's Twitter.
We can't wait to show you more.
Seeing lots of speculation about #tesv game engine. It's brand new... and it's spectacular!