Terrible visual design...yu do realize that MW had far worse graphics... OB had better controls and Living Combat instead of dice rolls. I watched the video comparison. Morroblivion was better
Oblivion has horrid-looking NPCs and an ugly all-pervading bloom. It takes the magic out of Vvardenfell's locations. Just because a game is more recent doesn't mean it has better graphics. That said, Morrowind's vanilla NPCs aren't so pretty either, but I can take them seriously, unlike the dunmer that I see in Morroblivion footage. It's like a legolas painted blue and dressed in bonemold.
The combat is better in Oblivion for sure, but to me, it's not worth giving up a far superior RPG experience all-around.
Regarding the original topic, I feel nothing for recreating games in other games because A) The original is still always better suited for its own content and

the modders could be doing so much more creative stuff with their effort, like http://solstheim4e.blogspot.co.uk/.