I got my copy. Maybe i can help a little bit with some of the questions:
1: Battle System.
I didn't get too far into the game yet (maybe played for about 45 minutes), but it is 1-click to attack and 1-click to block, and i havent really used magic to attack yet so i can't help there. However, even though it is just click to attack stuff, it's a lot more involving than Morrowind. You dont just stand there and swing and hit 1 out of every 4 times like Morrowind, in this if your sword hits something, it actually HITS something. Also, blocking is pretty hard to get your timing right. Fighting in Elder Scrolls 4 is a lot better than Elder Scrolls 3.
2: Performance.
My machine can play the game at 12x10 at Very High details and HDR. It's not perfectly smooth, but it's very playable and is very detailed!