I went through this forum for about 3 hours last night trying to figure out how the hell I was supposed to get this mod to work. I tried everything, literally. I looked through all 26 pages and found every topic that had to do with the game crashing at startup. Nothing helped. The game wouldn't start with my heavily modded oblivion and so I tried making a backup and a fresh install. That didn't work either. So finally I decided to give up and just replace all my mods into my oblivion folder and play again. Suddenly oblivion wouldn't work either and in fact had the exact same problem when I tried to start it with OBSE as when I tried Nehrim. I started to get a little made thinking about how trying to make Nehrim work had broken my oblivion file, but then I decided to try and launch it with the launcher instead of with OBSE, it gave me the message saying it was configuring to my hardware. I went back and tried OBSE. OBSE worked. This got me thinking, so I backed up my oblivion again, made a fresh install and this time launched the fresh install before installing nehrim. I installed Nehrim, and boom, like magic it started up. Now I haven't started playing yet, I immediately came over here to report my findings, but I have seen the opening cinematic and actually got to the main menu.
TLDR this small step, running the fresh install of oblivion before installing nehrim fixed my problem. The immediate crashing at startup is gone and I can get to the main menu. I will report on the ability to start a game soon.