Your mistake here is assuming that for Bethesda, horses done "right" is the same as what you would consider to be done "right". Todd never specified what he means by "doing them right", exactly, it's a pretty vague term and the only thing we can say for certain about it is that if horses are included, they must be better than in Oblivion, since Todd said Oblivion's basic implementation is no longer good enough and for Skyrim, they want to make sure they can do them right. Thus, the fact that Bethesda chose to do horses seems to indicate that we can expect something better than Oblivion, but how much of an improvement will it be? I don't know. In any case, it doesn't guarentee mounted combat, now, well done mounted combat would be nice to see, because it avoids the annoyance of needing to dismount every time your attacked while riding a horse through the wilderness, but I'm not going to automatically assume it's in just because we have horses.
Yeah and you had to have a lot of money to afford a warhorse.
And I always end up having a lot of money by the end of the game in past games, so I don't think that's any reason not to include a feature, we could have horses with different abilities, how suited they are for combat included, and with war horses being especially expensive and hard to find.
That's actually what happened in the middle ages. You just don't see it anymore because horses have slowly gotten dumber because of global warming. Which, as everybody knows is caused by the decline of pirates. Does anybody like spaghetti?
Curse you global warming! First we get exploding killer birds, and now you're also responsible for the decline in equine intelligence over the ages? When will your evils ever end?