Install the Unofficial Oblivion Patch. Install the Unofficial Oblivion DLC Patches if you have any of the official DLCs installed. Install the Unofficial Shivering Isles Patch if you have Shivering Isles. Install QTP3 Redimized. Install the UOP350+QTP3 Patch. Install your favorite UI mod. The name 'Redimized' means Reduced and Optimized. You don't need the original package, this version includes all the textures and meshes. The fixed meshes from the latest UOP-Compatibility Patch are already included. 256MB graphics card owners should have at least 2GB of RAM. It still will stutter in various places.
Qtp3 Redimized
Many people may be aware, that the texture dungeons fortruins exterior rffloor01.dds in QTP3 Redimized appears to be speckled. There is a much larger number of textures in the pack, that have the same issue, although not as severely. I am not sure if many people are aware of the reason for it: In simple terms, it is an unintended random transparency in a DXT1 texture.
More specifically, in DXT1 compression, the texture is divided into 4x4 blocks, and the coloration of each pixel in a block is derived from two colors that are given for the block. If color1 > color2, there are no transparencies in the block, and this would be the standard case for all blocks in a normal non-transparent DXT1 texture. However, if color1. Yes, because the issue is the same.
Qtp3 Redimized Omod
No, because (and if I remember this correctly) that is a poor patch, as it is a non-transparent texture compressed as DXT5, which wastes half the file size in encoding a constant non-transparent alpha channel. I think one might be better off just using the original QTP3 texture instead.