I installed Oblivion together with some expansions and then installed the mods, I'm asking whether the mod list is alright or should I modify it?
I tested it in-game a little and haven't found any troubles however I'd like to be sure that everything will run fine so I won't have problems when I'll be playing the game for some time.

Thanks!

Oblivion.esm
Francesco's Leveled Creatures-Items Mod.esm
DLCHorseArmor.esp
DLCOrrery.esp
DLCMehrunesRazor.esp
DLCSpellTomes.esp
Knights.esp
DLCShiveringIsles.esp
MaleBodyReplacerV4.esp
RTFemaleReplacerV12.esp
Compass-Disable_Both.esp
IlluminationWithin.esp
Let There Be Darkness - Cyrodiil + SI.esp
Let There Be Darkness - Mehrunes Razor.esp
Let There Be Darkness - Knights.esp
Francesco's 10 days respawn time - 1-16 day lenght rescale.esp
Francesco's Slower skills x1.5.esp
Francesco's Optional Chance of Stronger Bosses.esp
Francesco's Optional New Adventurers.esp
Francesco's Optional Vendor Tweaks.esp
Francesco's Optional Files 1.esp
Francesco's Optional Files 2.esp
SI Living Economy.esp
Dungeon Actors Have Torches 1.6 DT.esp
GalerionTrueUnarmored-v20.esp
talkwithyourhands2.esp
CT-Backpacks.esp
Bedrollsanyone.esp
FGPorter_nofollow.esp
RedBag - Dangerous Animals.esp
Is It Safe.esp
Horse_AI-2364.esp
300ft_crime_detection-7319.esp
KT_KhajEyeToggle.esp
Etherealeyes_Khajiit_AddOnly.esp
kuerteeCrimeHasWitnesses.esp
Natural_Weather_HDR_with_darker_Nights_by_Max_Tael.esp
Natural_Water_by_Max_Tael.esp
Natural_Habitat_by_Max_Tael.esp
Natural_Vegetation_by_Max_Tael.esp

Get http://oblivion.nexusmods.com/mods/20516, install it, run it, and see what it has to say. Then do everything that it tells you to do.

Then get Wrye Bash and build yourself a bashed patch. With a load order like that it's bound to require merged records.

Also recommend the unofficial patches.

Replace all of these except for Natural Habitat with All Natural.

Which requires a Bashed Patch, so do what Hanaisse said as well.