If I can, I'll probably go for a character who does a little of everything (Jack of All Trades if you will). However, would you say this will make the character less powerful in the higher levels? Since he would alternate between melee, ranged attacks and magic, he would not level up either of these as quickly as a pure tank or mage would. Hence making the character perhaps weaker? It's been too long since I played Oblivion, I can't remember how this works.