Morrowind is probably my top 5 favorite game I've ever played so I'm kinda biased, but I think that If you're a fan, you'd love Bloodmoon. It's not as in depth as the Original morrowind, but it's nice cause unlike tribunal, you have a complete outdoor land to roam. The story line was good and their were many, many sidequests to complete. Yes, there is a lot of walking around, but if you liked morrowind, you're use to that. I recommend you have a good videocard/CPU with Bloodmoon (or at least better then mine), because when I travel up north and the snow starts to fall or I get blizzards, (just like dust storms, but with snow) my machine starts to choke with all that's onscreen.
I have about 25 mods installed with Morrowind/Tribunal/Bloodmoon and the ones that I'd recommend the most is a good house mod (Abu's Mannor), Better Heads, Better Bodies, GIANTS, All the Official morrowind mods, Marksman Mod, Real Signposts, Armorer Mod and Fishing Academy.
PM me if you need more info on how to find/install these mods.
---MY RIG---
MSI Nforce2 w/ Athlon XP 1700+
512MB PC-2700 Kingmax
Geforce 2 GTS (*blush*)
WD800JB 80GB,IMB 20GB
USB 2.0 WD 15GB HDD
Pioneer 16X Slot DVD
Sony DRU-510A DVD-RW