How well it's done? Graphically, yes it's quite amazing.
But it doesn't feel alive.
I dunno, as I walk down the dusty road (I walk everywhere btw, literal toggle walk on and move at 1mph) the flowers swaying in the wind, the branches groaning with protest as they bend in its might. The stream near by rushing down the steep slopes as salmon fight their way up it to spawn. I hear the birds chirping, my armor clinking and clanking with my movements, the sounds echoing off the mountain side with each loud step. I notice a shadow over head, turning I see a hawk fly above, my heart slows as I return to my walk the fear of a dragon leaving me. I notice ahead a buck and doe drinking from the river, a butterfly passing between brings me back to attention of my surrounds. Suddenly I notice the sound of another set of footsteps, I turn just it time to see a bandit lunging at me with his sword. What shall I do?
See, THAT is how I feel while playing Skyrim. The game doesn't seem alive? I just don't get that, the scene I depicted above is something like a book and that was a real experience from the game. I honestly think the big problem is people just don't use their imagination. They rush around using fast travel, not really paying attention to what anyone says and doesn't even bother to take the time to read anything. Or people pretend to be roleplayers, not that they are doing it to be hurtful or anything, but they think by having rules, and reading stuff that they are roleplaying.
My tip for roleplay is thus. You should feel like a person in this world, like each breath you take is in that world, smelling it, seeing it, tasting it. You got to feel like you underground and this weight of the gravity of things. Dragons are coming back, death is the end, you got to feel fear for yourself because you feel tiny in this world. When you see a shadow on the ground and your heart starts racing and you spin snapping your head up to the sky thinking to yourself 'Oh f***", when you can actually sit down and forget about your real life problems and focus on the game that it feels like you are there that is when you have achieved immersion, true roleplaying.
However if it feels like you are playing a game with rules, you are doing it wrong.
Thus is what I mean when I just think that people really don't understand the mindset of this game. It's not about being the best of the best, despite it's rewards. It is here to offer people a world in which they can lose themselves and live in a fantasy. No other game can do that.