Ok guys would you choose to be a vampire or not? What are the benefits?

if you like the sound of it, choose it, the last vampire i played was fun for quite a long time, then the sun damage got a bit annoying so i cured it, just remember, if you don't like it, it can be cured

Actually, just remember, if you don't like it, the quest to cure it is the buggiest quest in the entire game and there are multiple ways it can get messed up so that you can never finish it. If you have the Vile Lair DLC, though, it can be cured easily,

I've become a vampire numerous times on purpose. I think it's pretty fun being a vampire, especially one that keeps themselves at the lowest level of vampirism so that they don't take sun damage and can blend in with a crowd.

The benefits?

100% Resist Disease
100% Resist Paralysis
50% Weakness to Fire
20% Resist Normal Weapons
8 pts Sun Damage per second
20 pts Fortify Strength, Speed, and Willpower
20 pts Fortify Acrobatics, Athletics, Destruction, Hand to Hand, Illusion, Mysticism, and Sneak

Depending on how far you let your vampirism go, you'll also get a Lesser Power and three Greater Powers.

Hunter's Sight (Lesser Power) - Night Eye for 30 secs on Self, Detect Life 100 ft for 30 secs on Self
Vampire's Seduction (Greater Power) - Charm 50 pts for 20 secs on Touch
Reign of Terror (Greater Power) - Silence 20ft for 60 secs, Demoralize up to lvl 6 for 60 secs on Touch
Embrace of Shadows (Greater Power) - Night Eye for 90 secs on Self, Invisibility for 180 secs on Self

But then you have the disadvantages. Sun Damage can be a real pain. At level 2 vampirism, it isn't too bad, and you can run across town to get somewhere safe before it starts doing any real damage. At level 4, you'll be dead in a couple of seconds. It also makes fast traveling really tricky, as you can often fast travel somewhere, only to arrive in daytime and dead.

Your appearance will also change, making your character uglier than he/she already was, and at level 2+ vampirism, people will stop talking to you. You won't be able to do most quests, and shop keepers won't sell you anything.

It's an interesting experience though. Great if you do a lot of combat, not so great if you do a lot of social things. It adds flavor if you're into roleplaying, though.

You can find more detailed information here:
http://www.uesp.net/wiki/Oblivion:Vampirism

Oh ok, well it looks like you can really get away with allot of things being a vampire...I will give it a shot...thanks for the info

Well being a vampire is not that bad at all, having fun with it. Now new question is, when I feed from other people while they are sleeping, do they become vampire too? It doesn't seem to affect them though.

That would be nope.

There are some mods out there that change that if you are on PC. The one I use and prefer, I'm not sure I'm allowed to name publicly anymore. He got in trouble for selling his user created content with the mod. (He got the okay from Beth, since it was 100% user created voice and sound files, but it goes against the policy for the boards iirc.)

Supposedly he is working on the quest part of it now that the core is done, but I haven't kept up with it.