just in case this topic was never really pointed out, I do recommend for all Oblivion modders, who use OBSE/OSR in conjunction with Windows 7 64 Bit,
do not activate any compatibility mode for the Oblivion process. Running Oblivion.exe in native Win 7 Mode brought me a much faster and fluent game.
I just found out that it was checked for Windows XP 3 compatibility mode by accident on my computer, and I really was wondering why especially in cities everything was so slow (5-6 fps).
Ok, this is just a reminder bout this issue. Thx, have fun!