Well I bought it and when you launch it from Steam it opens the typical Oblivion launcher like you'd have with the CD version, with Shivering Isles and all the DLC in the Data Files folder. I haven't tried any third party mods yet but from a quick look at the install files it's basically the same as the CD version but you launch it from Steam, so I can't see why it should be incompatible with anything.
What I'm not listening to is the latest Pendulum album. From what I've heard, it's actually so bad that it's literally not worth your time listening to. Therefore, I'm going back to Iron Maiden, Queen, AC/DC, and nothing else.
I like the skills being 'dumbed down' in Oblivion because there's more chance of getting something you're good at. The other day I went to a dungeon in Morrowind, killed a guy outside and took his armour, Orcish. It was medium armour. In Oblivion, it's heavy. My major skills in Morrowind include heavy armour but not medium armour. So in other words, the best armour my new character has come across so far is practically useless to him
You can't have looked very hard, at least if this is the mod you're looking for. I searched for "wolf" and it was the first one. And your colour map mod was second when searching for "colour". So please everybody look before posting.