Oblivion GOTY

It's currently on sale at Gamestop and I'm very tempted to pick it up. I tried Morrowind for pc 6-7 years ago and was too overwhelmed by it (too much to do, not enough direction). Now, I've played Fallout 3 and NV and loved those. I am waiting for a Skyrim GOTY someday, but until then, is Oblivion worth picking up?