First off, let me say that what I have seen has been fantastic!
This is the problem I am having. I've tried running this mod on its own, and it refuses to start up. I installed, and re-installed morrowind and oblivion, tried manual instalations and wrye bash installation, and I get instant CTD's.
When I install a crap load of mods, (various superpacks etc) I can get it to morroblivion to work, sort of. All interior spaces I have been in Morrowind works, but when I go outside, the boat is missing, and buildings are missing, except the doors to get in them.
I have tried for the better part of a week to get this sucker workin, and I could really use some direction at this point.
Thank you for your time
(EDIT: I have made sure that Morrowind_ob follows right after oblivion.esm in the load order)

You've got some issue with
You've got some issue with missing textures; probably a corrupted download. You should try re-downloading.
Also:
Are all of the ESM and ESP files actually enabled in your load order? (checked the box)?
Do you have OBSE installed?
Do you have Oblivion installed somewhere outisde of C:\Program files\?