My idea is to make mod that would add more realism, because imo that is what Oblivion needs most. Player character would have 2 more status indicators, that would be "Sleep" and "Hunger".
Look, if NPCs sleep, eat, why player character should be like some ultimate killing machine being active all-time and without food??? That really drains role playing qualities of a game. I can't understand why they made it this way!
Note: NPCs and player character are intended to have lot of similarities (instead of Morrowind).
I'd suggest to make it this way:

--Sleep--

If "Sleep" indication is at very low then character would lose some of Intelligence, Willpower, Agility and Personality attributes (restored when sleep).
If "Sleep" is almost zero then screen could became blurred (like when suffering damage).
If "Sleep" indicating zero then character would be paralysed (if possible - laying like after a strong blow) for a few game hours until "Sleep" is at low again.
"Sleep" indicator becomes 0 (from max) in 36 game hours.

--Hunger--

If "Hunger" is at low - character would lose some of Strength, Intelligence, Willpower, Endurance and Personality (restored when "Hunger" is higher)
If "Hunger" is near zero then all the attributes would be damaged to 0.
If "Hunger" is at 0 then character would die.
If "Hunger" is max - character would lose some of Agility and Speed (restored when "Hunger" is lower).
There could be "Thirst" indicator as well (but with a bit different side effects than "Hunger")
"Hunger" becomes 0 (from max) in one game month or less and "Thirst" - in one game week or less.

For more realism there could be "Bladder" and "Hygiene" (from Sims ) (like go-to toilet and use bath ^^). "Bladder" restoration process could be like waiting outside 1h (or less if possible).
If when restoring "Bladder" there would be any NPCs around - their rating against player would gradualy drop.
If not restoring "Bladder" manualy - it would restore automaticaly, when being 0 but then Personality would be damaged to 0 and "Hygiene" would gradualy drop Personality would be restored while restoring Hygiene.
"Hygiene" could be restored near the water.

All these 4 bars could be somewhere in journal menu (not to overload game screen)

And if it would take too long to make all this system then just make that - if "Hunger" 0 - player character die, if "Sleep" 0 - paralysed for some time. Later add more stuff

More requests:
As i'm such a realism fan i'd like to see options - "disable player-on-map indicator", "disable compass" and "disable quest info on map"

I love the idea, (well....maybe a little less love weighted over to the bladder suggestion) coupled
with a mod that slows time to a crawl. I think it could be executed very well,

What i didn't like about the realism mod in Morrowind, is the fact that every other 5 seconds i had
to do some bullcrap thing that takes me out of my way to do something that could realisticly be
held over.

I advocate this idea under certain conditions, please adhear.

-I don't like making the game senselessly harder for myself.

-I don't enjoy dropping whatever i'm doing just to fufill a simple need.

-I wouldn't like these needs to apply themselves in hostile enviorments. (all except hunger)

-I would like subtle signes to describe my need instead of the infamous imersion killing "you are *blank* go find a *blank* and *blank" text. or it's evil sibling, "you no longer feel *blank*, God it's tedious.

Making all attributes to 0 when very hungry would mean you couldn't move, would die anyway and everyone would attack you on sight. DONT DO IT!

Oi oi oi....
Who do YOU think you are, hm? Taking our god, Dirox's idea like that, you must have guts, mate. I have been instructed to flame you, and, if I feel like it, I will pull out your small intestines and hang you with them!

To change time scale - press '~' in game and type in 'set timescale to 1.00' to change to rl time and 'set timescale to 2.00' to change to 2x rl time (you can set timescale to whatever you want).

It must be dicided here if we need rl simulation elements. One who plays Oblivion just to conquer his enemies asap doesn't need any rl simulation but that wouldn't apply to one who enjoys role playing his character in Oblivion.

Sorry - my mistake. It would be ok to damage attributes to 0 except Luck (when very hungry) and leave essential attributes very low. I never had strength or speed at 0 tho.

Oh boy... does there have to be such faggots like MasterSaji in every forum...

Anyway, modders - what do you think?

Driox, Maniac and I have been working on realism mods for at least a few days before you even posted this, hence the flaming. And No, I'm not a knight, prick, or twat, but a dedicated modder who know where credit is due.

Well... that's great! You are not used to coincidences, are you? Could you tell more about that mod?

coincidences rarely occur with me

Right now we're finishing up a beta of a "Tiredness mod" Basically, you're always up, for days and days, but it doesn't effect you, well, the Tiredness Mod will change that. Up for 16 hours? You now have a "tiredness" of meh, 12, wait, what's this, my attributes are lowered! Maybe I should go to bed and make me un-tired! *sleeps...wakes up* wow, my tiredness is down to 2 again, and no more lowed attributes!

Yeah...if that doesn't explain it, ask Dirox, my lord and master