Is anyone making one? Didn't really like vanilla skyrim, but I could imagine it being amazing with an OOO esque overhaul mod - unique handplaced loot, more static enemies etc, with the addition of some things like a journal and written directions [I know there is a mod that handles this to some degree already] it could be a decent game.

The elements of an OOO like overhaul are all over the place in dozens, if not hundreds of mods.

However, many of the higher profile modders (the ones most likely to really produce such a monster) feel that there's a lot less to "fix" in Vanilla Skyrim compared to Vanilla Oblivion.

As Skyrim is still receiving patches and DLC, some of which radically fix or introduce bugs that can invalidate months worth of work..

Add to that that such a mod would literally take over a year to produce, and, well... I wouldn't hold my breath just yet.

Still a bit early for this kind of stuff. Check out http://skyrim.nexusmods.com/mods/19281 for a nice playable WIP

Skyrim Vanilla is already better than Oblivion with OOO. Skyrim just needs a few tweaks here and there; a tune up as it were. Oblivion was broken on a fundemental level well beyond Skyrim.

Couldn't agree more. The primary issue with Oblivion was the ridiculous amount of level scaling which was the first OOO adressed. Later on, it added a lot of items to levelled lists, partially scattering them troughout the world. Now, we have mods that, for example, add cloaks, add them to levelled lists as well as hand place them. Same goes for other mods that deal with armory and stuff.

The only thing that remains are less scaling and more static stuff, but remember that OOO didn't really do that. It wasn't about totally static encounters, it was about level caps that actually made sense. And Vanilla Skyrim has them as well.