Hi everyone!

I did have find the problem, I opened Oblivion.ini and set the bMusicEnabled = 0 and bSoundEnabled = 0.
Oblivion DID work after that but without sound obviously.

Now my question is what can I do to make it work with sound?

And by the way my OS is Win Vista and it might help a little so here's my sound devices's dxdiag

-------------
Sound Devices
-------------
Description: Speakers (SoundMAX Integrated Digital HD Audio)
Default Sound Playback: Yes
Default Voice Playback: Yes
Hardware ID: HDAUDIO\FUNC_01&VEN_11D4&DEV_1988&SUBSYS_104381E1&REV_1004
Manufacturer ID: 1
Product ID: 100
Type: WDM
Driver Name: ADIHdAud.sys
Driver Version: 6.10.0001.6110 (English)
Driver Attributes: Final Retail
WHQL Logo'd: n/a
Date and Size: 1/15/2007 23:41:50, 316928 bytes
Other Files:
Driver Provider: anologDevices
HW Accel Level: Basic
Cap Flags: 0x0
Min/Max Sample Rate: 0, 0
Static/Strm HW Mix Bufs: 0, 0
Static/Strm HW 3D Bufs: 0, 0
HW Memory: 0
Voice Management: No
EAX™ 2.0 Listen/Src: No, No
I3DL2™ Listen/Src: No, No
Sensaura™ ZoomFX™: No

Description: SPDIF Interface (SoundMAX Integrated Digital HD Audio)
Default Sound Playback: No
Default Voice Playback: No
Hardware ID: HDAUDIO\FUNC_01&VEN_11D4&DEV_1988&SUBSYS_104381E1&REV_1004
Manufacturer ID: 1
Product ID: 100
Type: WDM
Driver Name: ADIHdAud.sys
Driver Version: 6.10.0001.6110 (English)
Driver Attributes: Final Retail
WHQL Logo'd: n/a
Date and Size: 1/15/2007 23:41:50, 316928 bytes
Other Files:
Driver Provider: anologDevices
HW Accel Level: Basic
Cap Flags: 0x0
Min/Max Sample Rate: 0, 0
Static/Strm HW Mix Bufs: 0, 0
Static/Strm HW 3D Bufs: 0, 0
HW Memory: 0
Voice Management: No
EAX™ 2.0 Listen/Src: No, No
I3DL2™ Listen/Src: No, No
Sensaura™ ZoomFX™: No

You can go ahead and re-enable the sound. It's actually the music that puts a burden on a lot of onboard soundchips. The game is a lot more realistic without the music, but it is more immersive with the music on I have to admit.