I could not find any links to any previous threads onthis matter.

Mods generally go into the ..\Oblivion\Data folder. (If they don't, they will explain precisely where they do need to go in their documentation, but it will be in relation to the \Oblivion "root" folder.) In the case of Steam, this will be under the \SteamApps\common\ folder. Other than that mods are installed exactly the same as with a CD version, with the exception of something like OBSE which has it's own launcher for the game. Getting that to launch correctly is explained 'http://forums.steampowered.com/forums/archive/index.php/t-900993.html'.

I strongly suggest you read the 'http://wiki.tesnexus.com/index.php/Installing_Games_on_Windows_Vista%2B' article first. Getting your Steam games out of the "C:\Program Files" tree will save you a LOT of headaches down the road. This is even more important with Oblivion than later generation games, because it pre-dates the security changes MS included with Vista and later versions of the OS.

-Dubious-

Awesome, thank you