With this, you can change the stats on weapons and armor, create new races, create new NPCs or creatures to fight, create buildings, quests, etc. Modding for Oblivion can be done at multiple levels with multiple levels of skill and required knowledge.
Here is another good place for introductory information: Oblivion Mods FAQ (Frequently Asked Questions). This is a starting point for those wanting to start modding but do not have a clue what to do, where to go or what to ask.
