If someone wants to play a frail slow mage, they can dump all their level up points in mana and ignore stamina.
With stamina staying at default, you would be the slowest character in the game possible. But of course, if you want to play a frail character be prepared to pay the consequences of being frail; being less able to sprint would be the least of your problems.
On that note, it doesn't really make sense that your player character would start old. Not with being level 1 and weak. Just roleplay yourself as a young man who neglected to exercise as he studies the mystic arts, until he became a formidable old mage at level 50 but never last very long in endurance tests.
what bugged my about the ridiculous over the top run/swim speeds in oblivion is that the player was the only one who could achieve those speeds. there was literally nothing in that game that could outrun me much less just keep up to me. how is it that i was the only one that could run that fast.
Not right. There was one NPC with 100 speed. M'aiq the Liar.
That is why most people only see him as a blazing blur as he runs past them.