So I've got Oblivion on disk, and the DLC buried in my external hard drive, however I was looking at the Steam Game of the Year Edition Deluxe and thinking it would be easier to be able to download it instead going through the closet and try and fin the disk. My question is, does the Steam version works just as well as the disk version (no extra crashing other than normal Gamebryo freaking out or mod related)? Also, is there anything special I need to do to get the game to play well with Windows 7 (such as a 4Gb enabler or running it in compatibility mode)?

Thank you for your time.

I think there are issues with trying to use the LAA patch on the steam version, as Steam sees that as a file change, and thus, replaces it.....

Install Steam/Oblivion OUTSIDE program files. No other issues that I am aware of.