EDIT: SOLVED - It was Oblivion Reloaded alone that was causing the issue, figure I'll leave this post for future reference.
I downloaded some mods off the top 25 list and started a new game. I noticed that my shield takes up my whole screen when I block; when I wield a sword, It's not visible until I swing. Something is messed up with my character POV in relation to what he/she is wielding, but I'm not sure what is causing this issue or how to fix it.
Here's a list of the mods I'm using
(P.S. I deactivated blockhead, MenuQue, and Character Overhaul, the ones I thought might cause the problem, and the the issue still persists.)
1. Oblivion Script Extender
2. Better Cities
5. Natural Environments
6. Oblivion Stutter Remover
7. Oblivion Character Overhaul v2
8. Official Oblivion Patch 12416
9. Unofficial Oblivion Patch
10. Unofficial Shivering Isles Patch
11. Oblivion Reloaded v4
Any ideas on what is causing this issue or how to fix it?
Thanks for your input guys!