From the album: Gram's screens from Morrowind, Oblivion and Fallout 3
Sundown in the south of Vvardenfell (in the Molag Amur, Ascadian Isles, Azura Coast trinagle), that Dwemer tower belongs to Mzahnch, die Deadric shrine in the background is Ald Sotha. You can even see a bit of Vivec (Telvanni quarter, I guess) through the fog.
Using SSAO Fast, Sunshafts, Underwater Effects, Underwater Interior Effects, Smart Sat, Bloom Soft and Eye Adaption (HDR) shaders with full reflection settings and dynamic ripples (set to 40) for the water and dynamic solar shadows @ 4xAA and 8xAF with 5 cells distant land. With a HD 7770 it gives me about 30 FPS (rather constant) in exteriors.