Bethesda confirms the Xbox 360 version does have texture streaming problems and it is related to installing the game on the hard-drive. Apparently the game has problems replacing or showing the better textures loaded from the HDD instead of the default/low-res ones on the disc.
The current solution is to not install the game but the loading times will be longer until Bethesda gets a patch to fix the issue.
People had some doubts about the graphical quality when it was originally shown to be just 3.8GB in size when the PC needed 6GB for an install and it turns out they were right.
http://www.giantbomb.com/news/bethes...xbox-360/3804/