repurchased morrowind (having originally got it as an original purchase with my xbox WAAAY back in the day) and downloaded overhaul 3.0 yesterday. Finishing up character creation, I took the silt strider and greeted my old friend balmora. Joined the fighters guild, mages guild and thiefs guild straight up, so as to avoid refusal of invite later. Gonna check out imperial legion next...
To those curious about the overhaul, Basically the overhaul has vastly enhanced graphics whilst retaining the core gameplay of morrowind, with some slight tweaks (all optional during the lengthy overhaul installation process). The environments and architecture in particular look better than oblivion and only slightly inferior to skyrim, however character models are still unfortunately blocky, and despite what I am sure was a titanic effort, character models and NPC movement has lagged behind. NPCs seem to lack a few too many frames when moving and look like robots when gliding around... a pity, but by no means gamebreaking.
Players whom have jumped in at skyrim should beware; overhaul has really only made graphical improvements; gameplay is still based off a hidden dice rolling system, and as such the RPG elements of the game are significantly more pronounced than bethesda's more recent games. Morrowind will not handhold you through questing either; expect frequent referrals to your journal and a heavy dose of exploration; there are no quest marker arrows on your map or on NPC's heads

It's a purer, more focused RPG game than the more recent fallout and elder scrolls games, more akin to pen and paper RPGs than modern PC rpgs. The RPG and questing systems will chew up and spit out those whom are unaware; starting off is gruesome, but well worth the investment.
I'd highly recommend it for players whom played morrowind, it's just like you remember only prettier. Skyrim newbies beware; this is your granddaddies RPG. Keep in mind that morrowind showed the world what 3D rpgs could really do, and my an inspitation for gameings concept of open world sandbox came from this beauty.