I just got through playing Oblivion and that doesn't happen to me on my PS3 in HD. Never have I had a building pop up on me...I think it's a user problem along with the user's equipment
Let me assure you, this is NOT the case! (what I underlined in bold and bigger font)
I never played the PS3 version of Oblivion, but I have more hours in it, both on the 360 and the PC, than I care to remember.
They both heavily 'suffer' from this phenomena of buildings, especially forts, dungeons and the like, popping up out of nowhere
once you get fairly close to them. Some of the best modders out there has spent many, MANY, hours bringing out mods to try
and rectify this problem, and they did a great job of it. The whole thing is very performance heavy though, and this is the reason
it is as it is in vanilla PC and on the 360 version. I sincerely doubt that Bethesda completely rewrote this for the PS3, especially
since the PS3 is pretty much on par with the 360 performance-wise, and light-years behind PCs.