I didn't have a problem with the default timescale, though a little slower is nicer.
I'm surprised nobodys mentioned niceone's dynamic timescale. If BGS were to make changes, this would be the feature set to aim for. In his mods, the timescale adjusts to what you're doing and where you are, and is completely configurable. Different scales for walking, running, riding, indoor, fighting, sneaking, etc. are available (all optional). It makes sense to slow fighting and sneaking down to 1:1, for example, but leave running and riding at a closer to default rate, IMO.