I would, but the steam version of Oblivion is annoying to work total conversions into.
Nehrim really easy, I have steam version too.
1.copy the oblivion folder in your steam install, and make a backup for easy "reinstall".
2.download nehrim, and install it
3.copy the nehrim files, and paste them into your original steam oblivion install, overwriting anything it asks/merging.
4.unchecked all oblivion .esps and mods too in the data tab at startup, and leave only nehrims checked.
5.play nehrim using oblivion .exe(can't use nehrim .exe because of steam).
6.if you want to go back to oblivion, delete the whole oblivion folder, and paste your backup in it's place.