Picture in your mind what The Elder Scrolls 4: Oblivion would look like if it were developed using the Skyrim engine. Lovely, right? And indeed it is, thanks to TESRenewal, the folks behind the Skywind and Morroblivion mods. Below, is a video showing the conversion's progress thanks to volunteers.
Not that Oblivion was dull or looked like bunk or anything, but it looks rather smashing when brought up to date.
Skyblivion started in March 2013 and is still in development build only, so the more people who contribute to development, the faster we can get our grubby paws on it.
Development of Skywind, which is Morrowind revamped using the Skyrim engine, is still in development and has a rather large team attached to it.