Yeah see I've checked out some of the popular modding sites for Oblivion and most of the highest rated stuff was pretty hairs and overpowered weapons. They seem to be littered with those silly anime girl/boy/can't tell fans. I'm not interested in mods, more the editor.
You are not looking hard enough.
1) Deadly reflex - Dismemberment, kicking, dodge, sneak kills, throwing weapons.
2) Midas Magic - Unique spells and spell balancing.
3) Natural Environments - Graphic improvement.
4) Keychain - Keychain.
5) Oscuros Oblivion Overhaul - Remove creature scaling, bug fix, game balance, living economy, new equipment, new factions.
6) Servant of Dawn - New faction and quests.
7) Shadowcrest Vineyard - Player home, item sorting and quests.
8) LTD Vampire Overhaul - Better vampire.
9) Marts Monster Mod - More spawn, new monsters, removes level scaling.
10)And the most important one, even if nothing else
DarnifiedUI - Customize HUD.