The
TES4 Plugin Utility (linked in the thread; it changes, so I can't post directly to it) is worth consideration if you plan to load a lot of mods. It's a utility that actually merges mods, and judging by the more knowledgeable thread comments, actually appears to do a pretty good job of it. The reason for fewer mods is to avoid reaching Oblivion's mod limit, though I'm not sure what that is--nor has Bethsoft said, as of yet.