Okay! So as it stands in this version(On the Oblivion Server). There is a well known glitch that has been tested by at least 5 people I know.
When attempting to fish with an Old Rod, Good Rod, or Super Rod the line and bobber appear but only for those not actually fishing. Other people can see the line just fine but the user of the item itself cannot see them.
I know it may seem like a small problem but it makes fishing extremely difficult. Particularly at night. Not being able to see where the bobber is in the water so not being able to time your catches as the bubbles approach.
The rod model itself looks glitched and pixelated when being held as well.