If you have 2 GB RAM, you should be able to not just run the game (it runs in 1 GB) but also load a lot of mods. And mods will add literally 100-200 hours of gameplay. Tons of excellent quest mods out there. To whet your appetite, check out http://knol.google.com/k/toql-the-oblivion-quest-list#. Dozens of quests, long, medium and short, plus companion-based quests, each noted with some detail, and links. It's a bit behind, in fact, since the page maintainer had a child about 18 months ago and hasn't been back, so there's more content than you'll find, there. But it should keep you busy.