Oblivion Vanilla graphics or HD graphics do hold up well, but i usually prefer the more vibrant style of cell shaded games, like zelda or pokemon. 
Seeing how no one made a mod like that yet, i decided to do one myself, taking mostly Wind Waker textures as the base.

There's also thef fact that my sight is not as good as it used to be, so it honestly even helps with noticing distant things on the field.

This pack covers:

---- The world:
- the landscape (every external area, like forests, mountains, etc...)
- All the towns
- all dungeons, Ayleid ruins, caves, etc...
- The Oblivion Plane

---- NPCs:
- All clothes for upperclass, middleclass, lowerclass, and robes
- individual features like skin, eyes, hair, etc...  of every race

---- for a future update:
- Armor
- some of the clutter

Installation: 
step 1 - Just drop the "textures" folder inside of your Data folder, and the path will look like Oblivion/Data/textures.
If you already have a "textures" folder inside of Data, choose to replace it.

step 2 - For it to work, you should also move "Oblivion - Textures - Compressed.bsa" to some other folder, just to have it backed up, and then the textures will work properly, or else, the texture pack will conflict with the vanilla textures.

(ps: A conflict may happen if there are other mods installed that also make use of new textures or meshes)