Options are always nice. That way everybody is happy. Oblivion felt too much like an FPS to me. For an RPG I like to point a target and let the computer use my characters stats rather than my own skill.
The only thing that oblivion have is the engine, and when i notice that Divinity 2 was made with oblivion engine i was happy because are the same guys that made divine divinity, so it will add what lacks the original oblivion (quest, story, skill tree, etc).
In other words
Oblivion engine+divine divinity creators= awesome game, i am sure of that.
I just hope they don't limit themselves to make it work in consoles (it mean cut lot stuff, simplified quest system, simplified controls, etc) like most company's this days
Make the game thinking on a pc and not on a console, then make a port to console, not vice verse.
This is all i hope on divinity, if the game offer the same fun as the first one (quest stuff and action) i will be the first to buy it and buy a copy for my girlfriend as a present