I’ve decided to resurrect my old desktop PC, as my laptop does not like Morrowind, or rather Morrowind does not like my laptop, more specifically, it does not like the codecs I have installed. There exists a codec reset utility to fix the issue, but it’s for Windows XP. 

Meh, my old PC runs Morrowind better anyway (IIRC), as Morrowind isn’t exactly optimized for dual core processors, and by that I mean AFAIK multi-core processors were not on the market at the time, even when Bloodmoon was released.

Anywho, the important things is that I can now play Morrowind and watch “Let’s Interactively Play Morrowind” at the same time.

Yes.