I am planning on starting a new character in Morrowind to try out roleplaying and DiD. I want to have it as immersive as possible however. Is there any good mods for this?

Currently I am using the Morrowind Overhaul mod. I will probably also use the always hit mod (since I hate to try to hit a rat 100 times at point blank range and missing) , but balance this with playing on max difficulty.

Some immersion mods I really would want is realistic weight if possible. And weight on money.

Is there any mods like this and some other good immersive mods? I could not find any realistic carry weight on Nexus.. there should be one out there?

Check out Tarnsman's http://www.mwmythicmods.com/realism.htm. Some links may 404, if so have a search on Morrowind Modding History.

For gold weight I suggest ManaUser's http://webpages.charter.net/manauser/morrowind/#goldw