Well, I use http://planetelderscrolls.gamespy.com/View.php?view=oblivionmods.detail&id=268. I haven't used any other big ones because I'm satisfied with it, so I can't really compare Fran's with anything else. I would recommended simply reading the page I linked you to for more information on it.
If you were looking for a mod that alters how you level instead, I would reccomend http://www.tesnexus.com/downloads/file.php?id=13879. Along with Fran's and Realistic Fatigue (made to go with Realistic Leveling), it makes the game quite a bit harder, but more fun in my opinion.