For me this one: One big seamless world with more or less similar graphics throughout the map a.k.a. Oblivion
There's imho a lot variation in the world of Oblivion, even if many textures/tiles are used a lot. I personally don't like WoW's detail level and technology (no speedtree and so on...). I know many love it, but I don't <img src="/ubbthreads/images/graemlins/smile.gif" alt="" />
Option 1 is no option for me. Come on, 2007 is coming soon <img src="/ubbthreads/images/graemlins/winkwink.gif" alt="" /> <img src="/ubbthreads/images/graemlins/tongue.gif" alt="" />
