So, I'm making a Zelda TC for Morrowind, and I was wondering if it's possible for me to implement horses and wagons into the game? And maybe a few other methods of fast, but non-instantaneous travel?

Yes it has been done. Wagons I'm not sure about, but movement scripts on boats, yes. The scripting requires a pretty solid understanding of trig and the game engine itself, but there should be plenty of resources available.

Try this for starters:

http://planetelderscrolls.gamespy.com/View.php?view=Mods.Detail&id=2493

You'll also find these of interest.
http://planetelderscrolls.gamespy.com/View.php?view=Mods.Detail&id=3874
http://planetelderscrolls.gamespy.com/View.php?view=Mods.Detail&id=6112

Thanks, guys.

I'll check out those links when I get the chance.

:)