It is quite the optimistic project, but the content doesn't seem so insanely hard to build. Only a handful of things pose a challenge... It's just going to take a while. :P
Hard List:
-
Voice Acting
-Guard/Random Bandit Replacing (may be very easy in new CS, don't know)
-Customisable plane of Oblivion (perhaps upgrade could be done like houses, bought from
THE CREEPER)
All in all, I think it will just need time and effort... From perhaps more than 3 peoples.
I'm also quite the audio chap, so I could help in that department...
In actual Oblivion news, I've recently got to enchanting my own armor. Boots, gauntlets and greaves of feather 50 points. Yhey. Less wearing of the Grey Fox thing when dungeon crawling.
I've also turned the difficulty up past normal. It's fun actually having to fight your enemies.