I love these kinds of posts! I'm just getting back into Oblivion as well, so I'll take a look at my grotesquely and completely unnecessarily large collection of OMODs and see what I can recommend.
1.) http://www.nexusmods.com/oblivion/mods/45666/? and http://www.nexusmods.com/oblivion/mods/28378/? are still a great starting point. On top of that I recommend anything by http://www.nexusmods.com/oblivion/users/1600249/?, http://www.nexusmods.com/oblivion/users/3222912/?, http://www.nexusmods.com/oblivion/users/66583/?, http://www.nexusmods.com/oblivion/users/153868/?, http://www.nexusmods.com/oblivion/users/1545548/? (mostly southeast asian and tropical but there's a lot of great stuff), and http://www.nexusmods.com/oblivion/users/1518707/?, just to name a few. In fact, you might have better luck finding textures you like http://www.darkcreations.org/testg/wiki/Main_Page. Before installing ANY texture replacers I also like to start with http://www.nexusmods.com/oblivion/mods/38204/? and http://www.nexusmods.com/oblivion/mods/18430/?, so that any textures missed by other replacers should still have some improved normal maps. From there I'll refer you to the texture guide wiki I linked for any flora/creature/misc retextures that might tickle your fancy. Go over everything with http://www.nexusmods.com/skyrim/mods/12801/? to improve performance.
2.) You might be interested in http://www.nexusmods.com/oblivion/mods/44676/?. There are other face improvement mods out there, but this one is personally the best I've seen. Couple that with http://www.nexusmods.com/oblivion/users/2766128/? Seamless Heads and Equipment for whichever male and female body replacer you are using. I don't know if/how either of these play with Morroblivion. For male body replacers http://www.nexusmods.com/oblivion/mods/40532/? is really the only way to go. For female you have a huge array of choices, I recommend looking at ones with default armor/clothing replacers available/included. http://www.nexusmods.com/oblivion/mods/15624/? and http://www.nexusmods.com/oblivion/mods/24078/? are my favorites. All of these come in SFW and NSFW versions.
3.) http://www.nexusmods.com/oblivion/mods/10763/? or http://www.nexusmods.com/oblivion/mods/11280/? are pretty.
4.) See the texture wiki I linked. OCOv2 comes with some pretty textures.
5.) I can't really recommend any, I play with OCOv2 and cosmetic mods don't always play nicely with it due to its use of Blockhead and changes to default hairs for default races. It does add a few new hairstyles, and if you're even remotely familiar with the CS you can add more from your favorite hair packs.
I'd also like to give a shout out to http://www.gamesas.com/topic/1506000-relz-the-unique-landscapes-project/page-1?hl=+unique%20+landscapes and http://www.nexusmods.com/oblivion/users/1545548/? non-replacer mods like Jungle for Everyone and some WIP spring, autumn, and winter seasonal mini-overhauls, which don't overwrite anything in your data folder and are easy to toggle on or off via their respective esp files. Fun fun!
Oh, and I almost forgot! http://www.nexusmods.com/oblivion/mods/45749/?!