As with most Bethesda games that use the Gamebryo engine, I mod the hell out of Oblivion. I don't currently have it (GOTY, BTW) installed, but when I do reinstall it, I intend to run it with FCOM and same aesthetic mods, as well as OBSE. I'll also install Nehrim alongside it.
Pity Nehrim only has German VO...
As for the discussion bit, I expect that this thread will soon devolve into the usual "Warrrrrgh Oblivon sux ass Morrownd all teh wai" garbage all the other Oblivion/TES-related threads have devolved into.
FOOTNOTE: The above is not intended as a slight on the opinions of people who really do think Oblivion sucked - it's more intended as a slight on the fact that said folks can't seem to keep it civil or, in some cases, coherent.
That, and I'd honestly like to see a Hey-let's-talk-about-Oblivion-because-we-actually-enjoy-playing-it thread NOT become everyone-who-posts-in-this-thread-hates-Oblivion-and-we-chased-off-the-people-who-enjoy-playing-the-game.
Typing with dashes is hard.
I'll admit, yes, the setting is rather bland and generic. So? Personally, I don't care. Considering how moddable the game is, if that's really so much of a problem, there's bucketloads of mods out there to deal with that.
As for it not holding to TES lore, well, Oblivion was the first TES-related thing I'd ever encountered, so...I really don't care about that.
* dragonshardz shuts up because he is actually starting the downward decline.