We've all seen the videos where the player can move objects around using Havok. So does anyone have any info on how this will look in 3rd person? I don't think objects getting moved appear to move as if a hand is holding them, so I can't see the visible player (in 3rd person) moving it with their hand. On the other hand (no pun intended), the object would then float in the air when the player moves it. Or perhaps you cannot go to 3rd person view when moving objects. Thoughts?

I don't think you will be able to interact with havok implemented objects while in third person. If you try to interact with with one while in thir person you will probably switch to first person automatically.

Well, on Half-Life 2, for example, interacting with an item meant it just hovered in front of you even when both hands are busy...
It didn't affect gameplay at all, and I wouldn't mind if Oblivion was like that...
Point is, even in 3rd person, you could still possibly interact with items but, depending in camera angle, it would be trickier...
But I guess we'll have to wait and see...

I don't think they will have a hand reaching out or anything. It would be way too hard to do because the hand would end up clipping, for something which doesn't make much differance. So I think it will be like Curly said.