Get mods.
There are mods for everything, overhauled combat system, npcs, new spells, new locations, new quests, new weapons/armor, new creatures and of course mods expanding the guilds and adding guilds.
Before you venture off, check out these first and then head to one of the biggest sites dedicated to oblivion mods:
http://www.uesp.net/wiki/Oblivion:Must_Have_Mods - best resource
http://obse.silverlock.org/ - for mods that push the boundaries of the game but carefully coded in such as custom npc companions that can do way more than what bethesda intended and lower in the page are a list of mods that the makers of obse acknowledged.
http://www.tesnexus.com/ - best website for oblivion mods and extremely active
A few i recommend is the oblivion patch by the community, a new user interface for the menu, and the mod manager that allows you to activate and deactivate each and every mod at will. It may seem tedious at first to learn and load them in but trust me, this is the next level of Oblivion especially if you thought the "Vanilla" version (modding term for original game files) was incredible. Once you see what the modding community has been doing, it's almost iresistable to not want to try what they have done.
Every summer (best time to play an addictive game) I add more mods and so far have 38 mods installed and all compatible with each other but most are compilation which have more than one feature installed at a time. People on tesnexus.com are very friendly and have up to 100 mods installed at a time... but i'm good with my 38
Prefferred way of playing oblivion is dungeon crawling. I take my custom made npc companions into a dungeon made by the community where all the item's dropped are extremely powerful and aesthetically pleasing. I got so involved in the mods made that I tailored each of them to have a unique fighting style and their own arsenal.
P.S. if you're unable to get the console up, they made a simple mod to change the key to open it up.
