The mod community is 90% done making their own remake with Skyblivion. What vanilla Oblivion (and Fallout 3 & New Vegas) need is a patch to make the games run well on modern hardware. Aside from basic stability improvements, at most there should be basic bug fixes (include unofficial patch fixes) and up-scaled textures. Other than that keep them the same, but functional for future players. At the moment most of these older titles require too many mods just to run without crashing, I think Bethesda has a responsibility to fix that.
A Mario Kart clone with linux mascots
Neither