I actually prefer http://planetelderscrolls.gamespy.com/View.php?view=mods.detail&id=7429
It fixes the only thing that was frustrating/broken with the exisitng system, the need for micromanaging your skill advancement to maximise on possible +5 stat gains.
With this, you don't need to worry and you still get +5 for that attribute if all skill gains are in the same attribute, but the other attribtues don't suffer because of it. Personally, I use the medium version, +4 to each stat is far more balanced.
The main reason I don't like GCD and others, and I've played through with GCD and nGCD in Oblivion is because I like to have even a little control over where my points go, it just suits me more as an RPG. And it feels like more of an accomplishment.
Personally I wish someone would port over, the fantastic http://www.tesnexus.com/downloads/file.php?id=15619 which gives you an experience bar and you get experience for killing, crafting, exploring, harvesting and finishing quests. Simply amazing.