Okay I just installed this, I have 0 problems running Oblivion and yet the fps is super low. And also the textures for some reason look really tacky, sometimes not even appearing (replaced by the various colours). I probably installed wrong but it'd be nice to know what I did wrong before trying to reinstall.
Thanks!

Texture Colour Tacky, Run
Texture Colour Tacky, Run OblivionLauncher.exe in your Oblivion Directory under Options there are 5 Settings for Video Quality you will have to Set it to High for Morroblivion..
Running Slow When you Start your Game when Menu Loads when Starting go to Options and Turn OFF all SHADOWS,BLOOD DECAL, Pull Slider Bars on View Distance,Grass Distance,Buildings Distance,Actor Distance,, Down to Half Way .