I upgraded my video card from Nvidia 7950gt to Nvidia GTX 260 and my ram to 6 gigs. My processor in a Core 2 duo. I also switched from XP to Vista. Oblivion ran fine on my old setup and now it's wicked slow in towns and when there's a lot of action, and even in the dungeon when you start a new game. REDICULOUS!!! This is my fav game EVER. PLEASE HELP!!!
Have you deleted your .ini file after all those changes? You can find it in your My Documents\My games\Oblivion folder...it is the configuration settings file named Oblivion. Delete it and refire up the game so it creates a new one that is based on your curreent hardware config.
Also, how much RAM do you have? Vista uses up alot more than XP does, so if you don't have every much to begin with it will slow your game down. Ideally you should have 3-4 gig when using Vista, but you need at least 2.
i have 6 gigs of ddr2 ram. I cleaned my oblivion registry and reinstalled and it helped a little but it's still slow. Fallout 3 runs better on High settings than Oblivion.