http://www.youtube.com/watch?v=GqRfyfaY-Tg

Seems to be the case.

4:27 - Health, magicka, stamina CAN be respecced
6:00 - points put into skill trees are permanent, but it's possible to earn enough skill points to unlock all skills.
7:04 - morph choices on active skills CAN be respecced.

edit: We don't know HOW to do the respec or what the cost will be. But given the goal of letting people play how they want I can't imagine it would be very harsh.

Thanks, I'll take a look at this.

It's nice if it's confirmed.