Showing nudity is different than showing pornography. Will there be nudity? Almost certainly yes. Will there be sex? Almost certainly yes. Will you be able to see everything during romance scenes? No.
As said by xer21, an AO rating is not going to happen. It would mean the game cannot release on consoles, and the PC version would not be carried by most retailers in the United States, Australia, most Asian markets, and etc. Including XXX porn would likely cut sales in more than half. You can harp all you want on why the system is more upset by sexuality than violence (a valid point), but I sincerely doubt CDPR is willing to lose hundreds of millions of dollars in sales to make a point about sex censorship when they can tell a story just as well (and IMO better) by showing short TPP romance scenes just like TW3.
You make some great points here Rawls unfortunately i don`t think many will take in your message , I would be happy with what CDPR showed us in TW3 . With the right angles the characters could be totally nude without us seeing XXX stuff. Cutting out the stupid ugly undies from the Geralt shoot from above . Mind you no one rocks granny undies like the G man