I have several mods installed, and I can list them all if you really want, but for now I will only list the ones that might affect performance in order to keep this post from getting too long.
> OBGE (I usually only use the GodRays and Depth of Field effects which don't seem to drop my performance, I rarely use SSAO since It looks bad in fog or rain)
> Qarl's Texture Pack 3 Redimized
> COBL (not really using much of that at all)
> Ethereal Eyes
> Natural Faces + Facial Textures by Enayla
> Enhanced Water
> Alive Water
> All Natural Weather
> Full Landscapes LOD Texture Replacer
> Noise Replacer
> Animated Window Lighting System
Well, if you have a bunch of other mods that utilise AI, or are heavy script-wise (also, if they add lots of critters, even under the water where you can't see them, for instance), these can impact FPS big time, especially in places with lots of people (e.g., cities). Looking at that lot though, no, *they* shouldn't be too taxing for your setup, at all. You can't really go much higher anyway, without resorting to Crossfire, f'rex.
(from TweakGuides.com)
"Multithreading Tweaks:
bUseThreadedBlood=1
bUseThreadedMorpher=1
bUseThreadedTempEffects=1
bUseThreadedParticleSystem=1
bUseMultiThreadedTrees=1
bUseMultiThreadedFaceGen=1
iNumHavokThreads=5
iThreads=9
iOpenMPLevel=10
All of the above settings seem to relate to the use of the GameBryo engine's multithreading capability. Multithreading splits tasks into 'threads' where possible, and runs them in parallel across both cores of multi core or HyperThreading (virtual multi core) CPUs to improve performance. Note that raising the values of the iThreads, iNumHavokThreads and iOpenMPLevel settings very high doesn't automatically mean it uses that many threads - it all depends on how many threads are actually possible based on the information being processed. Experiment with these variables but if you experience problems reset them back to their defaults."
How would I set these values to make the best use of my i7? It has 4 physical cores each divided into 2 virtual cores for a total of 8 virtual cores.
At best, those settings are said to do nothing whatsoever. I tried them ages ago, and yeah, they didn't seem to do anything.
And your resolution is a fair bit lower than I would've expected, with that hardware. :shrug: Not sure what you could try. Maybe just uninstall/deactivate each mod that's a possible culprit, in turn. Or, next time you install Oblivion (should you choose a clean start some time) you can always try adding one mod at a time (of any kind, graphical replacer or not) and test FPS after installing each one...? This is what I recommend, but I realise it's at the very least a bit inconvenient, and possibly just a total PITA. Best way to tell for sure, though...
Oh, and it's always worth keeping in mind that Oblivion's engine is, quite simply, very far from optimal. Fallout 3, though built on the same base engine, is much smoother, even with more eye candy added, at higher res, with more AI/scripting, etc. Other games are even better coded, in this regard. Something to remember - hardware can only do so much for this game, basically. My CPU and GPU are overclocked, and my OS is optimised for playing games (when I want it to be) and yet, I still have to watch mods, their settings, and so on.