Oblivion was Re-Rated to "M" for Mature and Bethesda Responds:

Earlier today the ESRB said that they changed the rating on the game Elder Scrolls IV: Oblivion for "Partial Nudity" and "Excessive Blood and Gore". Now Bethesda responds and will work to get the changes on the boxes, but denies any wrong deception:

"The ESRB has revoked their Teen rating for The Elder Scrolls IV: Oblivion for the PC and the Xbox 360 and has assigned the game a new rating of Mature. The ESRB reports that this is due to content in the game that was not fully disclosed when rating the game initially. Bethesda, not its co-publisher, developed the game, handled the ratings application before the ESRB, and stands behind it..."

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Personally, this game rocks my socks. There is soooo much freedom in the game that it is refreshing to an avid gamer as myself. Everything seems so linear compared to Oblivion, and where as I believe there should be a Ratings system, on a personal level, I don't really care. I'm not 17 any more....