Let's face it, Fast Travel made Oblivion boring.
I'm glad you think that way, but it's not a universal opinion.
And, given that I disagree with your starting point, I can't really comment on the remainder.
(In general, I'm not interested in any kind of hardcoe/tedium/micromanagement mode. Didn't use it in FO:NV, didn't bother with similar mods for OB or FO3. Just not interested. So, as long as it's optional - and the development time put into it doesn't come from actually useful things, like making the basic game work - I don't care if such a mode is there for other people to use.)