The Oblivion system was fine and with the addition of sprint it will be even better.

Swinging your weapon depletes your fatigue fast enough without having to worry about moving too fast during combat, Oblivion had it fine.

I can't recall ever reading anywhere that sprinting was going to replace running. Why are people worried? I seriously doubt they're going to send it into the purely Morrowind style. They'll likely have 3 paces instead of 2, which is really more natural anyway.

Your guy is more at a jog than sprinting or even running.