The running-while-holding-a-torch animation is awful. Especially when holding a weapon. How anyone can see when swinging a torch in front of their own face is beyond me...

I found a torch animation in this animation pack: http://www.tesnexus.com/downloads/file.php?id=21475
It's in the omake folder. The torch still sort of weirdly swings in front of the character's face, but I'd say it's an improvement. There is no up and down motion anymore, like the character doesn't even know she's carrying a torch, just running with whatever happens to be in her hand at the time, lol.

The walking animation is especially improved as there is now very little arm movement when walking.

Is there a decent overall animation replacer? Like Fallout 3's Re-Animated. I've browsed the nexus with no real luck; most animation mods seemed geared toward making screenshots or screwing around. I've got the Sensual Walks mod (though seeing a giant orc woman in heavy armor walk like a delicate noblewoman is a little jarring, lol).