and he will, due to perks and MOAR stamina/health/magicka.
actually I think it could be better if instead of choosing what to boost between those 3, you just got a bonus depending on what you have been doing, just like skills work. so lots of fighting give you health, running around stamina, casting magicka. but tbh the leveling is already immensely better than crappy oblivion one.
dunno, this game gives me good vibes even without stuff like mounted combat, climbing and locational damage that I really hoped would be in a freackin 2011 game ( especially locational damage... hate to shoot somebody in the head and they shrug it off :/ ). it just looks like most things you would want to add to oblivion via a gazillion mods are already in and then some more.
for me the best thing is that this time around, they won't be programming on hardware that's still not released ( xbox360 for oblivion ) , and they're not rushing it. oblivion had a lot of very silly mistakes that were obviously due to rushed development, also axed features like the promised dynamic lighting, not to speak of how the Radiant AI had to be butchered to oblivion ( lol ) so people wouldn't slaughter each other over a broom
due to this, many game mechanics made you go "WTH were they thinking???" , like leveling, scaling and a bunch others. it just never worked quite as well as it could in practice, and it was VERY poorly optimized for PCs. never quite reached it's potential I'd say.
with Skyrim, it seems even the controversial features have a good reason to be in and it seems like they know exactly what they're doing. Oblivion kind of REQUIRED modding to FIX its many FLAWS, while I think Skyrim will simply BENEFIT from modding, kinda like Fallout 3. sure it's better modded, but still damn good out of the box. you CAN IMPROVE it, but don't HAVE TO FIX it if you know what I mean. Oblivion otoh... not so much.
also worth noting that Oblivion had a particularly difficult development: they were developing with what they THOUGHT the xbox360 specs WOULD BE in mind. M$ were VERY late in providing them access to the hardware ( something like 1/2 months before release, can't remember for sure but it was seriously ridicolous ) . so when it became apparent that the xbox360 was actually way less powerful than it was first hyped to be, they were already very far in development and had to hastily adjust to that hardware. of course when you do things in a hurry they never turn out really well
so in the end, Beth actually took a lot of flak for stuff that wasn't mainly their fault. kinda like buggy New Vegas
now I'm not a fanboy and I'm the first to criticize them when it needs be ( I'll never forgive them for the horrible melee combat that plagued Morrowind

), but the videogame community as a whole and the TES community in particular often seems like a bunch of spoiled brats complaining about everything