Which 'major overhaul' should I choose ?
My main 'overhaul mod' is OOO - I like how it balances things out. I like the new quests, armors, weapons and all the little details it adds to the game (like the posters and pamphlets addressed to adventurers).
Edit: For a different overhaul experience, with lighter system requirements, I suggest you look at T.I.E (Tamriel Immersion Experience). If I wasn't already running MMM and OOO, I would definitely give this one a try.
I fell in love with MMM for what it adds on top of OOO - mainly new creatures, diverse mobs (groups of skeletons or gobelins with different sizes, colors, etc), other adventurers that can help you... or not.
I wouldn't mind to see some of the additional weapons and armors from Fancesco's (or from Warcry more accurately), but since I already have more armors and weapons to look for than I can care about, i can live without it.
In short - I use OOO for the richness it adds to the game and MMM for the life it brings on top of OOO.
Edit: For a different overhaul experience, with lighter system requirements, I suggest you look at T.I.E (Tamriel Immersion Experience). If I wasn't already running MMM and OOO, I would definitely give this one a try.