I'm having a problem with not being able to hear NPC speach when you activate a conversation with them. I can listen to 2 NPC's talk from a distance, so i'm guessing my ini file may have been changed by something. Is there an entry in the ini file for NPC voices once you enter a conversation with them? And if so, what should it be? I have tried many things to no avail. Any help or suggestions would be greatly appreciated!

Thanks

Since this is in the Mods section: which mod? Not all NPCs added by mods have voiced dialogue, and their conversations with each other is usually vanilla stock phrases.

I also had this problem, for me, it had nothing to do with mods or the game itself.
It were my speaker settings.. I had 2 speakers, while my pc thought there were three. The sounds from when you have a dialog with people were send to the non-excistent speaker, so no sound came out. All other sounds worked..

This. If Oblivion is trying to send sound through a center speaker that you don't have, you'll just not hear anything that's supposed to be coming out of that speaker.

I had the same thing happen with Fallout 3 and it was the speaker config.
I had it set to 5 speakers I changer the config to 2 speakers and it worked fine.

I had NO voices at all last night. After some thinking I realised i'd turned the voices volume donw to 0, thinking it was the music. :facepalm:
Doesn't help you tho, sorry

Make sure you're not running this mod: http://tesnexus.com/downloads/file.php?id=26442
;)