Not clear then on what you mean. My OBSE.log shows everything as loading fine, pluggins etc. Remember with Win7 not to let it install any of your Oblivion game stuff to its default location, make a new base directory and install to there, avoids Win7 protection schemes.
Sorry, I should be more precision. My OBGE2 without these lib. doesn't start at all ,and "tells" about it in obse.log. (I can't put it here now). So, as I said, it is not the same case.