I know how Tomlong75210 likes to keep things organized like this, but I find it much easier to just open up oblivion.ini directly and make my tweaks. Always making a backup first, of course.
Actually, I edit the Oblivion.ini directly. I rarely bother with backups. Use comments to preserve the defaults values. If I needed to regenerate it for some reason, I need to redo the tweaks. I do keep one backup in one of my BAIN projects, but it is seldom updated. Once I figure out how, exactly, the Bash INI Tweak feature works, I may switch to using it. So far, my ventures to use that feature have failed.
Edit: Using the premade tweaks seems to work fine. I was trying to add various other tweaks, and the results were not to my liking.