TarlofGor-
It makes a new game directory so most of those questions are moot it will access resources from a new data directory and so no the question becomes can I add OBSE and maybe even port Wrye Bash? Because I already see Nehrim mods on Nexus - not many, but Oblivion is hard to imagine without Bash and the mods I mentioned before like TQP and Menu escape.
But first things first - going to at least try and get it up and running tonight. This is like getting a free game - so cool.
It makes a new game directory but it inports/modifies load order. When I left all of my esp and esm files checked in the Nehrim launcher, it crashed upon loading the game. When I disabled everything but the Nehrim esm and esp, it worked perfectly but when I went back to Wrye Bash, all of my mods were disabled. It's not a huge deal as it's still there; I'll just have to recheck them all and run BOSS. It is a minor nuisance though.