not much worse than the weilding a claymore while casting a heal spell and running in OB, imho. I'd settle for a quick swig while standing still if they cant make the animation look right.
Well, you can't do that either in Skyrim.
I say no. Too much hassle to deal with. If they did this, because potions will play a more prominent role in the game, Mage characters would get screwed for having to use more than everyone else.