Peter ID, there should be no need to delete anything from bash.ini. That bug was fixed.
I'm at a bit of a loss in regards to why this new bug isn't affecting me. It either has to do with what mods are installed, or with Bash's saved settings. LanternMonastery.esp didn't affect me though, so I'm leaning towards saved Bash settings. If they got corrupted at some point, that could explain this behavior.
When you did your fresh start, did you remember to clean out the Oblivion Mods directory? Specifically, the Table.dat and Table.dat.bak files?
Also, what mods were present? Was it just Oblivion.esm?
When I did my last test I deleted the bathesda Softworks folder and My Games folder to make sure all Oblivion related files were gone (I install everythng at default locations, works great).
I then copied my copy of a GOTY install Bathesda Softworks folder to my Program Files.
This copy has only run once with nothing added after installation and I exited at the Character creation screen.
I then only added OBMM, OSBE, Wrye, BOSS - made no modifications to any other than activate archive invalidation in OBMM.
Only mods present were
Oblivion.esm
DLCShivering Isles.esp
Knights.esp
Bashed Patch.esp
My python version is 2.6.5. I used the installer from the Wry Bash download page on Tesnexus.
I know v280 works without problem.
So, if v281 works for some and not others the only thing I can figure that is different are:
Python versions
bash.ini settings
Windows version (I have win7 pro 64 bit)
That is as far as my knowledge goes, sorry. v280 works great so I can stick with that.
If there is something you want me to test I would be happy to (I also have Oblivion installed on a VM at work so can try it on that - WinXP 32-bit, although I do not have the Oblivion CD but that should not matter).