Hello!!! It's been a while...
AT LEAST! Oblivion is working like I allways dreamed, with 300 mods and almost no stuttering (big thanks Oblivion Stutter Remover and TOPP here).
But use to had some CTD and some critic stuttering too.
So, I found one of the big stuttering culprits, LARGE TEXTURES!
Installing mod is great, but some of them lack of optimization.
One texture for gauntles or boots of 2048x2048!!! 10 mb for a set of boots. The same for rings or helmets!
So, my TIP is:
With Photoshop, give a look to the textures installed by mods. And reduce (optimize) if necessary.
Keep all textures less than 2Mb.
For Ex.: Ring, amulets good are 256x256 resolution.
Gauntlets, boots, gloves, pauldrons, shoes 512x512.
The same for other textures like landscapes 1024x1024, leafs, etc.
And save the DDS with compression DX5. Belive me, you will no have NO reduction of image quality. Leave QTP3 alone.
After optimization of a great number of textures, the stuttering reduce a lot, and also have a FPS boost.
Hope this helps!
Skeleton
Edit: @Elicaris thanks for the "write combing" tip.