Windows 7: Oblivion keeps not responding and closing

OKay, so this week oblivion was on sale for 5 bucks on steam and im like sure, why not, because my xbox game broke forever ago. I purchase it and install it and when i try and start it up and press play in the launcher, it says, "Oblivion has stopped working". I can't get it to work. What I don't get is that I can run Skyrim on maximum graphic settings. Here's my specs:
Graphics card: Nvidia gforce evga gtx 460.
Ram: 4g
Processor: intel core i5

Any help or suggestions appreciated. I really wants to play oblivion :3

You might have better luck asking for help in the official Oblivion tech support forums as this forum section appears to be devoted exclusively to windows 7 operating system crashes; not random software 101.

Thanks braski :3