This thread made me do a clean install of MW and start a new game again after about half a year. I've got a long list of mods, but many of the ESPs are actually components of the same set anyway.
I always install LGNPC, but this time I decided to skip the Seyda Neen and Pelagiad mods. More than the others, they seem a bit frivolous and they don't really fit in with the rest of the game. Whenever I start a game, I tend to do everything possible in SN, then walk to Balmora with a detour through Pelagiad instead of fast-travelling. All the quests added to these towns by LGNPC kind of feel like chores. Plus they also both add a quest where you help people fall in love, when "Maurrie and Nelos" is probably one of the first quests you encounter already. All the other LGNPCs, especially the ones relating to Redoran, are great though.
One of the mods that I installed for the first time is BTB's version of HotFusion's Economy Adjuster, which makes the game a bit more difficult. It makes life much more expensive, but it also removes the Barter option from the Creeper and Mudcrab merchants. The merchants were of course intended as easter eggs, but now everyone knows about them before they've even started playing, and it's just a great way to get rich quick. Combined with making fast travel rather more expensive (though within reason), I find it actually makes you think about money.
BTB's edit of the adjuster also tries to make merchants smarter in a nonobtrusive way (better mercantile/speechcraft), by means of a script that runs at the beginning of a conversation with them. Apparently he fucked this up, because the result is that whenever I walk near any NPC that offers services, it goes "Hmph!" and opens a conversation with me without me actually asking for it. Pity that, because I do like the idea of actually making mercantile a somewhat useful skill. I think I'll remove it before I go crazy from all the NPCs huffing and puffing at me.
What he does seem to get mostly right is his version of "Service Requirements", which actually changes guilds and factions in a significant way. It actually makes factions much more difficult to join (better attributes and skills required), and many more faction characters will refuse service, or require an extra fee. The only thing I wonder about is whether it's a good idea to include guild guides in this. I'm not sure if they are meant to be a public service or not. In any case, the surcharges are such that they once again force you to think about whether you really need that service, without being prohibitively expensive. And training is now quite expensive. If you want to train up a skill that you've never invested anything in, that's still affordable.
What I like about these mods is that they change the way I play. Morrowind is just too easy normally. It used to be that I would fast-travel all over the place just to do lots of quests for every faction, get every possible artifact, sell them to the easter-egg merchants, become a millionaire, repeat this process until you're the head of every faction. Now what I'm doing is the opposite, doing quests locally just to pay for future travel expenses, and I find myself looting caves and ruins again to sell to merchants, instead of just neglecting all the loot until I find Glass armour to sell to Creeper or something like that.
My game is still too easy because I'm playing a Redguard warrior, but that's because I want to play a Redoran character. At least with these mods, this character can really only advance in the factions that are suited to him. I only just got allowed into the Mages Guild (after raising some stats) to make the guild guide a bit cheaper, instead of advancing to lvl 5 membership within a few hours. The end result is that there's actually some purpose to playing again, as well as some thought about everything you do, just like when you first played MW without having 100 mods and knowing all the exploits.
A bit of self-control that I add is that I don't instantly go for one of the Sword of White Woe/Shadowsting/Goldbrand trio, even though I know where to get them. It's a bit too much when you can just kill anything.