Toward the end of my Oblivion playing days I had a rig beastly for that time period: SLI 8800 Ultra's, 8 gigs of ram, dual-core proc etc... and I was able to run a heavily modded Oblivion--OOO/MMM, Qarls textures, all those unique landscape mods, and even MTAEVWD. Now, don't get me wrong, I was playing at about 18fps, but without too many hitches and CTD's.
What is the modding science behind mods like AEVWD, and would it/could it apply to a game like Skyrim? I am experiencing such distracting pop-in with Skyrim that I'm considering increasing my uGridsload to 7. I think my machine can handle it, but a mod that reduced pop-in would be preferable I think to altering Ugrids.