Hey,
While exploring some mods for Morrowind i saw this, it says it can be used for Oblivion and Fallout. Well I tried, optimized 400mb for full FCOM setup and it seems everything works well. Also tried for vanilla textures, it only fixed alpha channels so i don't know if i lost some details or quality from textures. Is it really useful for Oblivion? I downloaded from TesNexus, Morrowind files. Let's hope we can use it safely so we can gain lots of performance with this and PyFFi!

Linky? What exactly does it do?

It recompress the textures so cut the file size without quality loss or minimal loss. Some textures have 4096x4096 resolution and no compression so it will choke gpu with this utility it can be resized and compressed so 4mb file drops 670kb. This is just extreme sample but most files need correct compression like i said tool optimized whole 400mb, huge gain for performance.

http://www.tesnexus.com/downloads/file.php?id=32675

Looks very interesting. Would be good to hear some more feedback from people that have used it.

So this is like Pyffi, but for textures?

Sounds like it, which would be a welcome thing if only to reduce VRAM usage from having unnecessary alpha channels stored in some of the textures. I doubt there'd be much FPS improvement unless this utility also downscales the texture sizes.