So, I just downloaded http://www.minecraftforum.net/viewtopic.php?f=25&t=29164 and started work on a city, finished a large tavern/hotel and a few houses, plus a watchtower. I'll probably upload some screens eventually when more has been built, nothing really interesting right now except the textures, which can be seen in the link anyway.
I wasn't sure about the textures at first, they certainly look great, but I was worried it would take away some of the charm of Minecraft's style. I was wrong, I'm loving this, some of it takes a bit of getting used to like the paintings, basically there are less actual paintings, but many other things such as notice boards, banners, shields, swords, pots and pans etc. Even ventilation grates
So to sum it up, I'm very happy with it, and I'll be looking into more graphical mods i think. I play minecraft mainly to build stuff and this makes my town look that much nicer, plus the flavour items to hang on walls are cool, having all paintings everywhere was a bit out of place if you ask me.
Now if only there'd be some furniture released besides beds, there's a mod for it but it's relatively unstable so I've stayed away for now. Seems the mod community is very busy though and I'm looking forward to seeing what cool stuff they come up with next.