A Fantasy Man huh?

[ISGC]

The Elder Scrolls games will always come with a construction set, as that is what they use to make the game. I have no doubt that it will have the capacity for cutscenes, but it will certainly be more focused on world building.

[BTGBullseye]

TES4 you can do everything from lipsynching, to lighting, to custom textures/models...

 

TES5 looks to be just as customizable.

[xinvintris]

I'd be interested of seeing any videos from Oblivion mods that show really good custom CUTSCENES that aren't from the original game.

 

https://www.youtube.com/watch?v=UoTFPoAjTq4

 

I do hope this helps, and Its only in German sorry about that.