Yo... Uhm, it might've been there alot of times but I saw none of it solved. Soo...
I got Windows Vista, Oblivion game of the year edition updated and I can't acces the console. I tried reinstalling the game several times and it works on my friend's comp when I tried installing my Oblivion on his PC.
I do have bAllowConsole=1, but the ~ key won't work ingame anyway. It works outside and all, but the console won't ever open.
it is usually caused by a conflict with the IR remote controller -even if it is not in use the drivers for the remote will intercept that key press and not send it to the game - There is a troubleshooting guide oon the Fallout 3 forum that details some fixes that you might try (Fallout 3 uses the same engine and has the same problem so the troubleshooting is the same !!) -- SEE HERE