Bethesda Softworks said:We are pleased to announce that The Elder Scrolls IV: Oblivion is currently in development for PC and future generation consoles. In development since 2002, Oblivion is another leap forward in role-playing with its combination of freeform gameplay and cutting-edge graphics.
Game Informer -apart from having a 12 page story on the game- has a in game screenshot in the cover. Enjoy:

I never knew what they where planning with that count down, but I always had a feeling TES: IV was going to be released on a next-gen platform.