^Meh, one of the things I loathed about those old RPGs was having a limited number of spells to cast between resting... why bring that into Oblivion?
Because some people like it. That's part of the whole idea of mods - catering to minorites as well as to the majority (the latter being served well anough by the base game, and certain mods). Those you don't care for... don't install. Simple, really.