I'm having a great time with
MorrOblivion, Morrowind modded to work in the Oblivion engine. You can travel between the two, using the same character, by ship. You can even ride and swim there if you have the correct mods installed. One of the things I hated more than the level scaling in Oblivion was the leveling system, still used from Morrowind. MorrOblivion is perfectly compatible with Oblivion XP, so now you can get XP for killing and quests.
Scorpio Slasher: ... What about you boy, what do hate?
Marcus: ... Bullies. Tiny d*ck egotists who hurt people for no reason, make people lock their doors at night. People who make general existence worse, people like you.