My laptop can not run oblivion with HDR on. It gives me a gray screen but the HUD still appears, It works good with bloom lighting with very high settings.
My pc specs are: Intel core i3 cpu m370 @ 2.40 GHz 6GB of ram (5.80 is usable) Intel HD graphics
OldBlivion was rather specifically created to allow nVIDIA's "FX" generation to play the game. Intel products are hit or miss whether you can sort all of the many problems they represent.