The patches will be important. Better games have more annoying bugs - to this day, Oblivion is still extremely unstable.
I still play that game on and off. Modded the heck out of it, and keep throwing more into the mix whenever it starts to get boring. The two I
started with were Oscuro's Oblivion Overhaul (which turfs the bulk of the "monsters level with you" silliness), and a "bag of holding" mod (as I've played the whole "stop adventuring whenever your inventory gets full" thing in a million other RPGs before).
The main quest was complete rubbish, and probably shorter then any of the guild-related quest for who knows what stupid reason. But, yeah, still playing the game on occasion. At this point I even have mods which add in most of the other provinces - currently partway through Morroblivion.
... Bah, don't get me started, or I'll go back to playing it and never be seen again!

It's the sort of game that makes me think long and hard before I start playing any new title (eg Skyrim), 'cause I know I'll burn up all my free time until it's "cleared"...