Noticed when trying to stealth my way into an area where i'd normally be able to take them all on, that my arrows were constantly being stopped ahead of MoBs because they were sticking to an invisible wall a foot away from the side of a pole. Noticed the same issue when crouching near a ledge and clearly being above the ledge 'aiming', but arrows still bounced off it and back at me.
Don't remember this happening as badly in Oblivion or Morrowind, in fact if anything it was nonexistant and they seemed to take into account the environment very well.