An SSD.

If I was to do this, would I need to actually reinstall Oblivion or could I just get away with porting the entire directory onto the new drive and just altering a few settings...?

You can move it. Though, you need to change some registry keys. I was unable to find the page that explained it that I found 6 - 7months ago, so that's really all I can tell you.

I tried it before and it amazingly worked with no problems. I had the directory on my USB and I was playing on a friends pc through the usb. I still needed to put the disc in the drive though.

It would be easier in the long run to just install the game on to the SSD. You would spend more time mucking about in the registry.

If you have a mods installed, what you can do is copy out your entire Data Files directory, along with the INI and Prefs files (if needed) from My Games. Then install Oblivion where you want to, then replace the newly installed Data Files with the one that has your mods in it.

Possibly, and I have cxonsidered that actually but from what I can tell for just moving it it's pretty much only one registry tweak on the installed directory entry...

But yes i agree I could re-install it and overwrite everything but I would rather not unless I absolutely have to...

Done it.
The longest bit was copying 28Gb of files across.

Just change one registry settings and repoint shortcuts, seems to working just fine.
(So far!)

Aye, nothing to it. Which SSD did you get?

-Decrepit-