To answer the Question : YES ! to play Online you need a BUYED Version of the Game, With a robbed or generated Serial/Key you'll never will play online, so Boy get you Money out and buy the Think, its not that hard to buy, you just need to visit a Software Store... 
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I made some Oblivion Mage Mods, if you are interested in some very good made Glass Horse Armor for the Game as Mod , follow these Links :
Light : [url]http://tessource.net/files/file.php?id=3544[/url]
Dark : [url]http://tessource.net/files/file.php?id=3550[/url]
Here are some of my Modified Glass Armors :
Blue Glass : [url]http://tessource.net/files/file.php?id=2511[/url]
Black Glass : [url]http://tessource.net/files/file.php?id=2459[/url]
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