Yeah, it should be similar, the offsets, etc, are going to be different, and the method for hooking the game, etc,. But the method for loading LOD's should be adaptable to this game. (Basically, you will need to chop the 3d map into cubes, then force the game to load those in the appropriate areas, probably not that simple, but that's roughly how I think it could be done.)
MGE ran great for me, I didn't have the power to really enjoy it, but it ran fine with reasonable settings. The newer versions are much better, if you haven't tried it in some time, you should maybe give it another go. (There is an offshoot, that adds even higher quality stuff, it's basically a modified MGE, it's on TesNexus. So if you have the extra power, you can maybe try that too.)