Preloading now thanks for the heads up. Still a little worried the game is only 5.8gb that seems quite small for 2011 AAA game especially one with the scope of Skyrim. Think of all the voice acting alone, I hope they didn't go overboard with lossy compression on stuff.
They've addressed the HDD space.
Updated: We’ve seen plenty of comments relating to the game only requiring six gigs of HDD space. Don’t worry… there’s still a ton of game in there. The total HDD space relates more to the compression opitmizations we’re able to do with The Creation Engine. Not only are do we think you’ll be impressed with how the game looks, but also how much faster it runs..
http://www.bethblog.com/index.php/2011/10/25/skyrim-system-requirements-announced/