well the current releasedate is somewhere in 2006...
Its also being made for Xbox 2 and PS3... if you rather pay money for a new console than a new computer.
Personally, being an active member in the Morrowind mod Community, its better to buy the PC game so you can enjoy the modifications.
I have a feeling I will be getting a new computer for my birthday... since this computer is old and crashes very very often (even while running normal games)
When I gave my brother some money and asked him to buy me a new computercase he gave me some halfassed excuse.
So I think I will be able to run it properly