Oh heck yeah!
Not that you have to do it, though, because oblivion has enough side quests to keep you busy for as long as you feel like it. Speaking of long,
oblivion can easily keep you playing for hundreds of hours with one of the most expansive and open ended environments you will likely traverse in a game. If this sounds too repetitive that's because the game is simply too large of scope to be summarized into a few paragraphs and regardless of any negative comments you may have heard this is the pinnacle of fantasy action adventure games and should not be missed by anyone who likes good games