Yes, it will be fine if you follow the proper installation guidelines and any grab any possible compatability patches you might need (there's atleast 2 UL's that need patch to avoid issues with OOO)
Here is a list of the things I have so far:
(DLC list first) - Fighters strong hold - knights of the nine mehrunes razor - orrery spell tomes thieves den vilelair wizards tower
I have cobl_172-21104.7z
OBMM
OBSE
Mobsified DCL 19203.rar
Oblivion v1.2.0416 (english)
Shiveringisles 1.2.0416
Unofficial Official Mods Patch v15 (installer)
Unofficial patch 3.2.0 installer
unofficial patch supplemental 27710.7z
unofficial shivering isles patch 140installer
TES4lodgen 3015
I believe that's all need?