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Had same problem, solved by starting Nehrim Launcher where the game is installed, check data files.
It says on the Nehrim Website it will be released this weekend.
Nehrim is more demanding on resources then Oblivion,but i was able to run the german version w 2 gb memory, with a little lag. Now i have computer w more memory so i expect no problems w Nehrim.
Take your time SureAI, i can wait. I´m occupied with M&B for the moment, but will switch to Nehrim when your english version is finished.
Bethesda has said that they don´t do MMO:s, they leave that to others. I hope they stick to that.
I guess sometime in sept. Looking forward to this.
I must say i never had this fun to play Oblivion or should i say Nehrim, this is how the vanilla game should had been.
Old Ultima fan myself i´ve following this with great interest and hope they finished it. Saw on their homepage that the general progress is 75%.