If you look at what players have done to fix Skyrim below here and then look at what bug fixes Bethesda has done. I mean, they made this game, they should fix these things much better then players. Don't Bethesda play Skyrim themself?
So below you can kinda see all the bugs that has NOT been fixed by Bethesda for X360\PS3.
Snip
and to think another 800 more bugs to go.
Anyway on subject yeah I've noticed Mounted Combat is horrible too. I don't exactly need first person but a little dot to tell me where I'm aiming my bow would make archery on horse back a viable option or at least more viable than just walking or running by myself. It doesn't feel like a complete feature if you can't use magic.
And to further the discussion on my dislike of horses, why can't I 'dismiss' a horse? Or tell a horse to 'wait'? Why doesn't a horse have a home stable, like any other follower? Dogs can be dismissed... Dogs can wait... Why not a horse? 'Horse, go home. I really REALLY don't want you following me everywhere, take the hint before I put this sword through your stupid head'.
As I was wondering Skyrim the other day I thought about this same thing when Shadowmare kept popping up everytime I fasttraveled. A quick fix would be to let you have stable somewhere to store your horses. Maybe even let you earn some money by renting them out where you can come back every 3 days in game to collect some more money.