Hey. I need to solve a problem. I would like to install few mods, but, as i know many mods require latest version of oblivion. So, I install Oblivion patch v1.2.0461 , then launch the game and press "continue" or "new" in the main menu, it loads, and then BOOM - Error (Don't send). What am I supposed to do? I would really be happy if you can help me

Before trying more drastic measures try copying the Oblivion_defaults.ini from your install directory to the C:\My Documents\...\Oblivion
delete the Oblivion.ini there and rename the copied as Oblivion.ini. This shall solve the early error issue.

You didn't say anything about it but I think you have already a lot of mods installed. I suggest you reinstalling then all, mainly the bigger ones that changes deep the way the game works.

Umm, it didn't helped. I still get don't send error. And I don't have any mods at all.

You don't say if you are using OBSE or not. If a mod requires OBSE and it is not started before Oblivion you will crash. If you had your launcher starting OBSE before, Then after installing the patch it may not start until you redo the launcher to start it first.