System Specs:
Windows 7 Home Premium 64-bit
i5 Quad Core 2.79GHz
4GB Ram
nVidia GeForce GTS 250

As you can see, it should definitely run it. In fact, it has before, I was just getting CTDs (I assumed from mods) so I did a fresh install to restart. After the fresh install, it won't even run. The compatibility settings are to run in Windows XP Service Pack 3, Disable Visual Themes, and Disable Desktop Composition. When I first run it, the screen goes black for a split second as the compatibility settings disable the theme. Then the small square black oblivion window appears in the top-left corner, but instead of going full-screen shortly thereafter the screen flashes black for a second and nothing happens. Checking task manager confirms that Oblivion.exe is no longer running.

Any suggestions?

Did you make sure to delete the Oblivion.ini file located in My Documents>My Games>Oblivion?

*sigh* that fixed it. Thanks. /facepalm

No problem, glad that fixed it.

Hey all. I'm having a similar problem. The bloody installation process just quits out midway just before a little window pops up and says theres a "Redundancy issue". Rather i click "OK" or just ex out its the same result. WTF?

Cyclic Redundancy issues are typically tied to problems with the disc being read. You can try cleaning off the disc and/or updating the firmware for your DVD drive.