Just got the 5th anniversary edition of Oblivion. I uninstalled my Steam version (don't ask, the disk was cheap and I much prefer a hard copy) which I was able to run on my computer smoothly at highest settings, meaning my specs aren't a problem at all (I can post, but trust me, they aren't the problem). After installing my new copy from the disk, the game crashes straight after I click play on the launcher. I have not installed any mods so far, so I don't see why the game would be doing this after a fresh installation. Thanks for any help.

Did you make sure to delete/rename the Oblivion.ini located in My Documents>My Games>Oblivion?

Nope, that must be my problem. Thanks!

Yep, that will usually solve most problems related to crashing on startup, if the game worked in the first place.