Anyway I'm enjoying Oblivion right now, and yeah those texture packs - Qarl's Texture Pack 3, and Natural Environment are impressive - even if my system stutters as it renders the distant scenes

(will have to fix that).
Anyway the game looks really really good
Unique landscapes and Illumination Within are some really good ones too.
IW makes lights shine through Windows at nights. Just a little touch that makes things look much better IMHO. And UL just adds a variety of distant textures.
As far as the stuttering, you'll never get rid of it completely.

You'll have it even with a complete Vanilla version of the game as well.
But as I mentioned before, the Anti-Stutter Plug in and fast Exit Plug ns do help a good deal, although some stutter will still be present.
The only downside is you may want to edit the Anti-Stutter ini a bit for your needed.
Personally, I found setting the Min Frames to 30 and Max Frames to 60 was all that was needed. (Deafault is Min=15 Max=30 I think)
Something else I found helps with Oblivion too is putting it on a SSD. If it isn't already, you may want to try moving it and create a junction. Its one of those games that can get a bit of benefit from it, other than just initial loading times.
@Boogie
I just recently finished Alice. It is a good Game, especially if you like platformers.
I enjoyed it, but still need to go through it again to get all of the secrets to unlock the Disturbing Memories.
The story is OK, and you can get a bit more of it by collecting memories .. which works sort of like Bioshocks Tape Recorders.
The only downside is that it gets a bit repetative. However, the enviroments are really nice, gameplay is smooth, and when it does start getting a bit repetative ... you tend to want to move on just to see whats next. At least it was the case for me.
You can expect Approx 15hrs for your first playthrough, which isnt to bad for a modern adventure game.
The only other thing about Alice I think would be worth mentioning is that ..
Although the Keyboard and Mose works with it, I found the game a bit easier and much more enjoyable using the Xbox360 controller. It just seems to be really designed for it, and plays better with it.
Some may disagree, but thats my thoughts anyway.