After reading the above fanfic (living as an NPC in Oblivion) I have begun walking everywhere, and its actually pretty awesome, journeys no longer become 10 minuite jogs, but two day long adventures. It just took me an hour real time to walk from Markarth to Whiterun, and thats just half the journey.
Obviously this wont apply to everyone, but for the roleplayers out there wanting a more immersive experience walking is where its at.

also the above fanfic is awesome, check it out
