http://www.youtube.com/watch?v=VtP4rkJBky4 The modders responsible for it have managed to iron out most of the bugs and I love using it. It really adds a lot to the immersion.
I honestly don't understand the enthusiasm some people have for this utterly trivial and quite meaningless "feature". And no, I don't think that I'm "a camera and two forearms" when I'm running around in a first person game that doesn't have visible feet - I think I'm the character I'm playing.
Two comments on that video:
1) honestly, that looks worse than not having it. The view angle on the body is screwed up enough (the head, looking down, wouldn't be that far forward of the chest) that it's
less "realistic" than having no body.
2) why the heck do so many people making Youtube videos to show off something in a game, always pick some incredibly dark place to film it? You'd think they'd want people to be able to get a clear view.