I still don't have a definite yes or no answer but I find it hard to think that Bethesda would limit us to only male characters. I did read that there is not much difference between male and female so that sounds as if we can play either.
The level system as been changed. There is no cap. If you enter a dungeon at level 5 it locks at that level but one nearby you may not enter until you are level 10 at that time it will lock at level 10. There is a lot of speculation so weeding out what is fact from Bethesda and what is some one's guess takes care. Right now there is little information coming from Bethesda. I imagine they are fine tuning things and there may be changes between now and 11/11/11. My guess is just as good as your guess at this point.

Update: Here is the answer I got when I asked about this.
Quote:
Yep, most of the interviews stated pretty quickly that there's the 10 existing races, two genders, lots of customization including some body types too. Even 'laugh lines' so I guess tonal grunts and such. E3 demo seems to be an easy source.