Yep, I kind of regret getting rid of MW fully modded (with more than 200 mods) just to leave space for Oblivion believing Oblivion would kick Morrowinds boat.. Too bad it didn't.
As you all say, I miss the culture, the immersiveness, the atmosphere, the hero-feeling... I still hope expansions and mods will remedy some of that for oblivion, because I'm a graphics and mods freak and oblivion runs much smother than morrowind on my PC because of MW:s bad engine and tons of giant mods.. But even I, a great optimist, don't think it will reach MW:s greatness..
I think I'll install it again soon enough..