Perhaps!? How about "for friggin´ sure!" .@JDR, MW did many things better but none of those (save scaling, perhaps) are related to gameplay modes,
Oblivion may have some "gameplay modes" like archery and such better (though still not great), but its level scaling makes a lot of difference for character development and exploration which are both rendered pretty much meaningless in this game´s case.
None that I know of, though FCOM at least makes the realms more unpredictable enemy&loot-wise, but for what it´s worth, you don´t have to close that many gates to finish Oblivion´s sucky main quest since the main source of possible irritation in this regard, Allies for Bruma quest, can be skipped entirely.I still plan to replay Oblivion with lots of mods and the shivering isles expansion. Not for the main quest though, I am not going through those Oblivion towers again (unless there is a great mod for those parts?).