I recently downloaded Morrowind after getting my new alienware computer, and most mod guides state that the deafault folder setup is C:\Program Files\Bethesda Softworks\Morrowind, when mine is C:\Program Files (x86)\Steam\Steam Apps\common\Morrowind. Also, I have no .ini file, (or I just can't find it) and I have no Textures or Meshes file, all i have is Fonts, Music, Sound, Splash, and Video. Should I have these files, by default? Is it ok for me to just make a Textures and Meshes file?

Should have all that in the BSA files. Those folders are really only needed if something is going to supercede whats in he BSA. As for more info on steam version, I will let other people answer as I dont know much.

If you have a brand new install, there is no textures or meshes folder because they are only added by mods. The .ini is a text file probably called Morrowind configuration settings. It is in your root folder with the application (.exe)

edit: you don't have to make these folders, if the mod is packaged properly it will add them as needed. Also, I recommend not extracting directly to your game but extracting to desktop and then manually moving the files to the appropriate location. This way you can see if the mod is packaged right. Sometimes there will be extra folders which will screw up a direct install.

yeah i was going to install better bodies and some texture mods but alot of the link to sites that don't have the download anymore. plus i don't know any good ones

I believe the Morrowind.ini file is created the first time you run the game.