http://i46.photobucket.com/albums/f101/iwatson/WTF_view.jpg
And the inventory screen - my character is just as 8-up ...
http://i46.photobucket.com/albums/f101/iwatson/WTF_menu.jpg
Basically, try to imagine every graphical glitch possible, all at once.
I tried so many things, then decided to try and load Oblivion with the standard launcher (not with OBSE) ...
http://i46.photobucket.com/albums/f101/iwatson/OK_view.jpg
http://i46.photobucket.com/albums/f101/iwatson/OK_menu.jpg
I've launched OBSE with the current version a hundred times with no issue. So it can't be the launcher. Any ideas. I've never seen anything like this before. To be clear, the only thing I did different between taking those screens is launching Oblivion with OBSE, and then not with OBSE. Load order in case it matters ...
Spoiler
Active Mod Files:00 Oblivion.esm01 All Natural Base.esm [Version 0.9.4]02 Oscuro's_Oblivion_Overhaul.esm [Version 1.34]03 Armamentarium.esm [Version 1.35]04 Kvatch Rebuilt.esm05 CustomSpellIcons.esm** TNR - ALL RACES FINAL.esp06 Unofficial Oblivion Patch.esp [Version 3.2.0]** LoadingScreens.esp07 Natural_Habitat_by_Max_Tael.esp08 All Natural.esp [Version 0.9.4]09 All Natural - EW + NW + AWS.esp [Version 0.9.4]0A Natural_Water_by_Max_Tael.esp0B Symphony of Violence.esp0C MIS.esp0D MIS New Sounds Optional Part.esp0E Silent Player Voice.esp0F Storms & Sound.esp10 All Natural - Real Lights.esp [Version 0.9.4]11 WindowLightingSystem.esp12 aaaBorsBedrolls.esp13 ChaseCameraMod.esp14 P1DseeYouSleep.esp15 wd purse of wonders.esp16 Living Economy.esp17 Cutthroat Merchants.esp18 Display Stats.esp [Version 1.1.1]19 Streamline 3.1.esp1A Map Marker Overhaul.esp [Version 3.5]1B HotkeyCasting.esp1C MaleBodyReplacerV4.esp1D LevelerCheat.esp1E StockClothingArmor-forExnems.esp1F ExnemEC_Rogue01.esp20 UFF & RM Vermillion and Silverthorn Robes.esp21 UFF RM Ranger Armor.esp** Armamentium female.esp22 Athletics While Riding.esp23 Oscuro's_Oblivion_Overhaul.esp [Version 1.33]24 ArmamentariumLLVendors.esp [Version 1.35]25 ArmamentariumLL4OOO.esp [Version 2.01]26 ArmamentariumLLMagicOOO.esp [Version 1.35]27 Demonhunter.esp28 ImpeREAL City Unique Districts - All the Districts - Merged.esp29 ImpeREAL Empire - Unique Castles - All The Castles - Merged.esp2A Kvatch Rebuilt.esp2B Kvatch Rebuilt - OOO Compatibility.esp2C Cyrodiil Travel Services.esp [Version 2.0.6]2D The Lost Spires.esp2E Oblivion Gate Map Marker Remover.esp [Version 1.1.0]2F Natural_Vegetation_by_Max_Tael.esp30 Harvest [Flora].esp [Version 3.0.0]++ Real Lava 1.3.esp31 Birthsigns Expanded.esp [Version 2.]32 Dungeon Actors Have Torches 1.6 DT.esp33 ImmersiveHealthIndication.esp++ No Glow Grass - Shorter.esp++ ScriptIcon_Replacer.esp34 Shadow Ranger.esp [Version 2.9.2]35 Alternative Beginnings.esp [Version 1.1.3]36 RealisticForceMedium.esp37 Druid Mod.esp38 MidasSpells.esp39 SigilStoneSelector.esp3A Adrenaline Fuelled Archery- Bow Sway.esp3B SuddenViolence_CombatMoves.esp3C SuddenViolence_Push.esp3D SuddenViolence_Sprint.esp3E SuddenViolence_ElementalSpells.esp3F Denock Arrows.esp40 Duke Patricks - Actors Can Miss Now.esp41 RealisticLeveling.esp42 idkrrr_sarameyesNhairs4originalrace.esp43 The Southlanders.esp44 X.Races.Comp.esp45 bgMagicEV.esp [Version 1.7EV]46 bgMagicSpellTomes_for_WryeBash.esp [Version 1.68EV]47 bgMagicEVStartspells.esp [Version 1.68EV]48 bgMagicBonus.esp [Version 1.7EV]49 Syc_LongerDaysShorterNights.esp4A bgMagicEVShader.esp [Version 1.7EV]4B LifeDetect Shader.esp4C MiniMap.esp4D Bashed Patch, 0.esp