I love looking at the MGE threads and thinking - wow that's amazing graphics, I get a kick out of adding lots of texture replacers myself and generally enhancing my game - but when I put my headphones and tune into Morrowind the sound hisses in my ears - when I try and add sounds myself I spit and hiss myself as I have to fiddle with low quality mono rates which work perfectly outside the game and stumble like a drunken orc in the game - why is it that we can make the game look great but it still sounds like a 10yr old game?
I'm sure an MSE actually wouldn't be that difficult of a project, it could even be an extension to MGE, go to the MGE thread and see what them devs think.