Im finishing a playthrough of skyrim at the moment, and afterward I'd really like to give morroblivion a try/play oblivion (somehow I missed it between morrowind and skyrim). My question is:
As I understand it, morroblivion allows you to momove back and forth between the two games with the same character. What I was thinking of trying was doing a playthrough of morrowinds quests in morrowblivion, and then taking that same character (now an epic hero), and having him travel to cyrodil to assist in the oblivion crisis (ie- playing through the oblivion quests with my same character). Since oblivion is Leveled, the enemies should scale to me, and I was planning on using something like the uncapped mod to let me keep leveling up over the course of both games, but since I have yet to play oblivion I thought I'd ask around and see what other people thought?
Thanks!

Yes, Oblivion is completely
Yes, Oblivion is completely leveled by default, so if you travel to Cyrodiil with high-level character you'll most likely be facing the toughest opponents from the beginning.
My advice would be to use leveling overhaul for Oblivion (there are several options available).