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Let me start off by saying that I'm a huge Elder Scrolls fan, and a huge fan of MMORPG's.
This is not an Elder Scrolls MMO. This is a generic MMO with the lore and character names of the Elder Scrolls series. How can you take a universe and game series that is DESIGNED to made into a sandbox and completley go in the opposite direction? At what point in development did you think that it was a good idea to add classes, use this terrible engine, remove housing, and limit races to one of three factions? Let's take a look at the major features that have been leaked so far.
The PvP system you've described is already being done in Guild Wars 2. It is also far more limited than what Guild Wars 2 offers. 100 vs 100 vs 100 is nothing special and has been done for years now. Hell, even Darkfall was able to hold more than that and they had a real time combat system, which you described as being 'too hard' to put into TESO. How is it that an indie developer with a much smaller budget is able to implement this? It's called lazy development. Finding the easy way out. Point being, the PvP system described thus far has been done before. There is nothing that sets it apart.
Raiding and heroics? Really? I don't even have to describe this and tell you that this is has been going on in every MMO for nine years already. There is nothing that makes this stand out or even sound appealing to anyone who isn't new to MMO's. While not having a quest hub is a breath of fresh air, it still isn't as dynamic as the dynamic events that are implemented into Guild Wars 2. So again, what makes TESO stand out from the pack in this aspect? Nothing.
Your reasoning for not having real-time combat was technical limitations and being too hard to implement. I can't even begin to tell you how disgusted that excuse made me as a fan. Darkfall and Mortal Online have implemented real-time combat with a MUCH lower budget than what you have. Again, it seems like you took the easy route during development and there's nothing in the combat that sets it apart from other MMO's. TERA online, Darkfall, Mortal Online, and Guild Wars 2 all have combat that is far superior than what is described so far.
What you need to do is sit down and actually think about what sets TESO apart from the rest of the MMO's. There is a MASSIVE niche waiting to be filled in the MMO market, and that is a AAA fantasy sandbox. We have EVE online for Sci-fi, but it seems like no one has taken the time to make one in the fantasy setting. When I first heard of the announcement, I thought of player made factions, housing, FFA PvP with a jail system, dark and gritty graphic style, skill based character progression system, non combat professions being as viable as combat professions, player run economy, full or partial looting when a player is killed in PVP which thrives a player economy.
What you have here is more of the same. Nothing that sets it apart. Kind of makes you scratch your head as to how anyone in development thought this was the path to go down.