Elder scrolls IV on Steam. Will mods work?

Oblivion and Morrowind have just been released on Steam. Oblivion comes with both expansions and all the official DLCs. I’ve heard that fan made mods are what makes the game great. Does anybody know if mods are compatible with the Steam version?

Link

I’ve found out that mods using the Oblivion Script Extender (OBSE) will not work on the Steam version. Link

Mods that don’t use OBSE should work fine. The unofficial patches should work. Am I missing out on cool mods if I get the Steam version?

If I know the modding community at all, that statement just means that someone else will do it for them. Either that, or they’ll tell you to buy the Steam version, then download the old version via other means. Since you legitimately purchased a license, they’ll claim it’s OK for you to use the older version.

Note the “they’ll claim…” I have no idea if that would hold up anywhere. IANALawyer, so this should definitely not be thought of as legal advice.