The default configurations on a lot of MW users I see on the net seems to be:
step 1 - install morrowind
step 2 - install MW FPS Optimizer

Like it's a given, a no-brainer. Just use it. I havent read anything about it being buggy, that's why I dove right in without hesitation. Looks like I need to be more careful!

Still running great hours later at 60 FPS sans that program.