Yes. It is quite easy to accumulate hundreds, if not thousands of mods to enhance your game play experience. Once you've done most of what is offered via Vanilla Oblivion, it's time to experience the other side with lots and lots of mods. You can literally make the game look entirely different just through graphics mods, and then after that it's not hard to add dozens of new enemies, new rules to the old enemies, dozens if not hundreds of new dungeons/ayleid ruins(I myself am a fan of the Ayleid ruins, so I have like 30 or 40 mods specifically devoted to them), and of course, hundreds upon hundreds of new quests. Hell, some mods(very large ones) even add new landmasses to explore I do believe. I highly recommend buying Oblivion GOTY for the PC and going on a download spree. Perhaps first asking on the Oblivion Mod forums for good recommendations(though I do advise you give them a good idea of the kind of stuff you like so they can suggest appropriate mods)