Hawk52: I'll probably set Oblivion to reinstall tonight, back it up, and give it another go. If I can't get it I'll just play vanilla Oblivion with fancy graphic updates and tell FU to FCOM.
PenutBrittle: I may be the only person in the world to think this but I think FCOM is terribly dull. I understand the point of removing the leveled enemies, but it makes the first few levels so insanely boring and difficult because there doesn't seem to be a single dungeon possible to beat for beginning characters. I'm pretty sure some readme or forum post recommended that I grind to level 5 before begnning any quests. Grinding. Seriously.
I had to change my level to 5 and bump up all my combat skills via console commands to enjoy it at all, and even then I don't think it was worth the two week period of tinkering to install.
I know I'm in the minority, but I thought I'd just add that FCOM isn't required by any stretch, unless you really want a challenge. Though I will say it makes a second playthrough more interesting.
I've been avoiding Oscuro's Oblivion Overhaul due to a philosophical disagreement with its opinion on difficulty. That means avoiding FCOM because, as far as I can tell, it's really just OOO with content cannibalized from the other overhauls.
I used to just use Francesco as my main overhaul, but now that I'm in the process of tricking out my Oblivion for my Great Epic Adventure(TM) I've added Martigen's Monster Mod.