I just started Oblivion today after only really spending time with Fallout 3 and Skyrim. Going back seems to work fine. Based on what others are saying, you should check out Morrowind if you're interested.
Oblivion is the same generation as Skyrim so of course it's easy to go back. Morrowind is seriously technogically impaired compared to Oblivion. I just can't see doing it.
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