Not quite, but it's a decent improvement and makes it more than playable, but the lack of speech and having to read everything coupled with having to walk everywhere is becomes so very dull. if they lunched a speech pack and stuck the ability to ride horses then it would be equal to oblivion in my opinonPersonally I played morrowind after oblivion, and enjoyed it, it was superior to oblivion in a number of ways imo, the user interface and the leveling system for example. There is a morrowind mod that gives it oblivion graphics iirc.