So I did a fresh re-install of Oblivion today after almost a year of absence, but this time around there were no music after I completed a full installation of Oblivion - 5th Anniversary.
That has never happen before, so I've no clue or idea what's wrong or how to fix. Perhaps another re-installation could do the trick, but TBH I doubt that.
Another thing that's worth mention that I now have a lot better computer than my old one, so below are the specs of my new computer.
ASUS Z97 PRO GAMER
Intel i5 4430S 2.7 GHz
32 Gb RAM 1600 MHz
Nvidia GeForce GTX 750 Ti with the latest video drivers installed
RealTek (onboard)
SSD 120 Gb
Seagate 3 TB (GPT)
I'll post the content of DirectX later, but for now I don't think my issue is releated to my sound card instead it could be that I now have a high-end PC.