I have Oblivion with SI and Unofficial Patch applied. After installing a few retexturing mods I noticed strange shadows on NPC's faces, especially around eyes. Those shadows are only visible at certain angles. I use QTP 3 Redimized and Beautiful People mod to improve graphics. Here are screenshots illustrating the issue and mods I use
http://img222.imageshack.us/g/oblivion201101210128560.jpg/
Edit: I noticed that when I disable shadows the problem disappears so it definitely has somethng to do with shadows.