According to ESRB, this game contains: Blood and Gore, Language, Sexual Themes, Use of Alcohol, Violence
Parents might be put off on picking this up for the kids based on the T rating. However, the rating once again mostly errs on the side of caution. Sure, this game has some blood, some cursing, and violence, but it's not anything that stands out from about a million other games on the shelf. A more worthy consideration is that the game can be daunting with all the things there are to do and see. Kids with short attention spans will give up on Oblivion pretty quickly.
Hardcore RPG fans will want to make sure they experience this, either on the 360 or the PC. Oblivion has all the ear-markings of becoming one of the classic games of the genre—a title that anyone who seriously fancies themselves a connoisseur of role-playing games needs to have played. It's deep, it's challenging, and it offers almost as many quests and missions as your standard MMO.
Casual gamers should spend some time with the game as well. While it requires a certain amount of dedication to see and do everything in Tamriel, it's the journey and not the destination that truly matters in this experience. Getting to the end of Oblivion is an accomplishment, but the trip that leads in that direction (even if it never actually makes it to the end of the game) is a heck of a lot of fun.
Deaf and Hard of Hearing gamers will be happy to note that while there's a ton of great voice acting, the game is also fully subtitled.