These little mods I use in my current game and so far I'm satisfied
with them. So I thought you might like them, too.
It's however always a good idea to make a backup save if you experience
problems and/or just don't like the mods.

Included are:

keyLevelledMagicka
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Adding level based magicka bonus [((Intelligence + Willpower ) / 50) * level]
So at level 50 with Intelligence and Willpower at 100 you'll get a 200 Magicka bonus

keyRetroactiveHealth
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Health based on current endurance, strength and athletics only.
This removes the need for the not-so-fun initial endurance-boosting.
The actual formula used for Health is:
Endurance + Strength + Athletics+( Endurance + (Strength / 2) ) / 20) * level

keyfMagicArmorPenaltyMod
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Get less penalty to spellcasting while wearing armor (only 1-15%).
This is really only a variable value change in the CS.

keyLuck
*******
Get a small Luck change(or even no change) at every level


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2. INSTALLING THE PLUGINS
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Just copy the esp files to your Oblivion\Data directory and enable
them/the ones you like (preferably use the Oblivion Mod Manager -
put these esps after other health/magic/luck/MagicArmorPenalty changing mods).

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3. UNINSTALLING THE PLUGIN
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Just delete the esps and this readme from your Oblivion\Data folder

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4. VERSION HISTORY
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0.1b - initial beta

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5. KNOWN ISSUES AND COMPATIBILITY
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keyLevelledMagicka uses vanilla birthsign and race bonuses. If you
use changed birthsign/races with different magicka bonus, you'll
still receive the vanilla values.