It was and still is amazing. I have yet to fast travel( including carriage) and im well past level 25 for my slow heavy armored warrior. I've been tempted so Many times to fast travel, especially during myany trips to Whiterun, but nope!
I feel like I accomplished much in skyrim, yet the huge land still calls for exploring.
Currently, my Companion, now doing quest, wandered towards his objective and traveled through the long, cold mountains and into the very sixy Rift area. I encountered a lone tower with friendly guards, which happen to be linked to a quest after some usep research.
No fast travel has greatly made my dragon killing, flower picking, smithing, nose licking playthrough amazing. If you haven't already decided not to use fast travel, give it a shot. You'll have a slower, more rewarding experience you won't forget.