Elita Bastards posted an interview with Gavin Carter of Bethesda
Elite Bastards: Can you give us an overview of the main features used by the games graphics engine (i.e. Shader Models, texture sizes, HDR etc)?Oblivion - Gavin Carter of Bethesda
Gavin Carter: Oblivions renderer is a mix of the Gamebryo renderer with a healthy dose of our own internally developed technology. The engine fully supports shader models up to and including 3.0. We employ a full HDR lighting solution throughout the game.