Delays can happen, but it's still 8 months away, so they should have plenty of time for testing.
Plus, this is a big year for Bethesda. Their main franchise is going for the fifth game with Skyrim, the first game by id under Bethesda name and Brink, which is getting quite a lot of traction.
So 3 huge titles for Bethesda coming out on the same year and they already committed to dates on all 3, which surely indicates their confidence.
I think they will meet it. Bethesda is a much bigger company now and most of their staff is working on Skyrim.
I'm very happy with the improvements they made to Skryim. From the trailer some things I noticed.
- Better first person view, now more realistic although It would be awesome if they made a viewable body.
- Much better 3rd person camera, looks like it will now be possible to properly aim a bow in 3rd person.
- Animations are just so much better. Looks like the characters skeletons are actually deforming now and the transitions between animations are smooth. I suppose that's the new Havok animations system in action.
- Bows look to be much more realistic and also much more powerful, finally it seems like a thief will be just as deadly as a fighter or mage.
- Flowing water looks pretty good, perhaps not totally realistic but the way it moved was realistic which is better then anything they have done before.
- Everything else seems to have been ramped up in a significant way. I really can't wait to try it out since what they seem to have here is pretty epic.