See the only problem i have with not fast traveling is walking back and forth. If i walk the path once and see all the sights, then why would i want to do it again? So i just can't seem to get myself to not fast travel.
I've done Winterhold to Windhelm too many times than I'd prefer to admit, but it certainly does add an element of appreciation for little things they added into the game. I'll come across a waterfall, acknowledge the view, and carry-on.
Sure, the random encounters become predictable after awhile, I use caravans when I am able, but the scenic aspect of Skyrim is an element that should not be missed out on entirely due to fast travel options.