hi im new to playing oblivion
iv just installed vanilla and soon after installation i added FCOM
then after playing the game i installed some other mods that i think the game lacks

Leveling (added OblivionXP)
Market (added Economy and Commerce, Enhanced Economy)
Hotkeys (added Expanded Hotkeys)
Encumbrance (PackDonkey)
Sleep (Portable Campsite)

now i feel like i need to improve the ff aspects of the game
1. Underwater life - i only see Slaughterfish and too few of them
2. Magic List - too types of magic, not too sure cause ive only started but what ive seen on uesp.net theres only few kinds of spell and difference is its level, i have found few mods for this just not too sure what to use.. it seems some mods are over powered like the midas magic mod, want something that adds different spells but just right damage

also can you suggest which aspect of the game i still havnt noticed lacking? i dont care much about graphics so i dont put any mods for landscape and character skins

many thanks in advance

If not already done so, get the http://www.tesnexus.com/downloads/file.php?id=5296. One of the most vital mod/patch to get for playing Modded Oblivion.

Underwater life, here these:
http://www.tesnexus.com/downloads/file.php?id=6914
http://www.tesnexus.com/downloads/file.php?id=12504
http://www.tesnexus.com/downloads/file.php?id=34155

This thread is the best place to start: http://www.gamesas.com/index.php?/topic/1213147-oblivion-the-beautiful/

Search Tesnexus for LAME and Supreme Magicka. They are the two biggest magic overhauls.

sweet.. thanks.. with check out this mods now