Though admitably, I was reluctant to use Oblivion Script Extender at first, since I wasn't comfortable with the idea of needing a third party program to play the game at all, but once I actually used it to play some mods I really wanted that required it, I never made in install of Oblivion that didn't have it.
Similar experience here. I avoided it for a number of years because installing some third party executable that messed with Oblivion seemed kind of hinky.
But then, I finally ran into mods that I just had to try. And I've been using OBSE (and FOSE) ever since. No problems. (well, no problems with the script extenders. But they did allow me to use Oblivion Graphics Extender to somehow mangle my last install of Oblivion. That's what I get for trying some of the fancier shaders with a not very fancy GPU. )