Not only are fans working to restore The Elder Scrolls 3: Morrowind using the engine from Skyrim, a smaller team is seeking to do the same thing with The Elder Scrolls 4: Oblivion.
This is the trailer for "Skyblivion," which also is aligned with The Elder Scrolls Renewal Project. The Skyblivion team is currently at version 0.2 and most immediately needs people who can help recreate visual assets from Oblivion, such as armor, ground textures and other items. Voice acting, a common interest of many volunteers, will not be necessary as Oblivion was fully voiced - though the team may consider adding more voices to break up the repetition among NPCs in certain areas of the game.
Skyblivion isn't affiliated with Skywind and its work isn't taking time or resources away from it, the team reminds. Those interested in helping with the project may see this page.