HDR and AA would not work together in Oblivion only on certain cards..ATI I believe.
Fallout and New Vegas support HDR and AA working at the same time. On either brand...ATI or Nvidia.
I run both those games with 4 AA, 16 AF and HDR ( Fully maxed at 19x12..V-sync on etc ) and get a steady 60fps.
This game is weird though...
Still maxing it though...using in game AA, V-sync on etc.
Looks great...still could lose a few jaggies though.