Hi there.
Yeah, a lot has been done by the morrowind community in recent years, months even. Sadly there are no mod compilations, because there are constantly new mods released and trying to maintain an up to date compilation would be madness.You're gonna have to make your own compilation so to speak.
You might want to take a look here -> http://morrowind2009.wordpress.com/ to get yourself started.
Of course you should get the newest version of MGE -> http://www.gamesas.com/bgsforums/index.php?showtopic=1074308
Also some of the newest mods I'd suggest is to grab vurt's replacers from PES -> http://planetelderscrolls.gamespy.com/View.php?view=User.EntriesListing&id=444351
It depends a lot on what you want in your game. You should also check Mythic Mods for loads of detailed lists -> http://www.mwmythicmods.com/
Hope I was helpful