Current Top 10 Oblivion Mods
For those of us playing on the PC, the Oblivion experience has only gotten better since launch. Planet Elder Scrolls has a short blurb on ten promising mods already released by the community. The top two have been running on my system for slightly over a week now; I highly recommend BTMod (mentioned by Tycho last week) and Natural Environments.
Oscuro's Oblivion Overhaul
Does a bunch of good stuff, but most importantly it gets rid of that stupid level scaling thing.
I've been involved in some debates over that, and I still maintain its dumb, mostly as it provides no sense of accomplishment to leveling or getting better items or anything.
Tom Servo's equipment rarity mod
http://www.tessource.net/files/file.php?id=1968
Tired of seeing supposedly rare daedric and glass armor drop off common bandits at high levels? Ever wonder why these guys are harassing you for 100 gold when they're wearing tens of thousands of gold worth of armor? Download this... now rare armor stays rare, only dropping from high level creatures, and bandits have more appropriate gear. (I know this is the same as #9 on the list, but this is the one I use personally).
No psychic guards
http://www.tessource.net/files/file.php?id=2299
It's hard to be a master of crime when the guards are psychic... ever try killing someone and having a guard port up to get you? This mod greatly reduces the guard alert radius when you attempt a crime against someone. No guards hear, no bounty. Yay.
Arrow velocity
http://www.tessource.net/files/file.php?id=1793
Now a bow actually shoots harder than a plastic Wal-Mart bow... even the lowest quality of arrows will fire harder, and the better ones work much better.
Longer summons
http://www.tessource.net/files/file.php?id=1898
The summon length in the game is really low... some only last as long as 20 seconds. This mod can double or triple that value... especially useful for pure mage characters who depend on summons to 'tank' for them.