[bluestarultor]

For Oblivion, I recommend:

• Enhanced Hand-to-Hand - improves H2H calculations to make it a viable option
• Claws and Monk Gear - adds H2H weaponry, has a couple known issues, nothing major from my experience
• Alive Waters - adds several types of fish and fish meat, as well as aquatic plants
• Any variation of CM Partners - lets you take along NPC partners or even animal pets
• Ring of Wings - puts flight back into the game.
  • Original version (I have used this and can vouch for its stability)
  • Updated version (based on the original, likely just as stable)
  • Version 3 (not by the original author, has known collision issues)
  Needs OBSE, don't try to fly over walls or the game becomes unstable, flying indoors may make you clip to outside the building and into a black nexus.
• Advanced Water Modification - remember the dark, opaque water? This fixes that and is nearly photo-realistic.

Edit: Apparently, there are also other options for companions. This one apparently is based on a different engine with better stability than CM, but only allows you to use one companion.

As a note, CM isn't necessarily "unstable" so much as "resource-heavy." General rule of thumb for a good computer is no more than eight companions before the game crashes, with instability starting at five or so, IIRC. If you stay with a reasonable number, you should be fine.