Does anyone know if there is a fix for this?

http://i179.photobucket.com/albums/w283/Sieks/ScreenShot2.jpg

This, change:

In SkyrimPrefs.ini:
fShadowBiasScale=4.0000

It defaults to 0.25 I think.

Wouldn't such a high shadow bias make shadows look like they are "floating"?

I haven't noticed mate. The fix was from this thread http://www.gamesas.com/topic/1360206-wow-bethesda/

Not sure if it causes issues but does fix the problem.

It does. Have a look at the shadow on your character's feet in third person. Or the support pillars outside of Warmaiden's (the smith) in Whiterun. The shadows do not meet the actual geometry they are shadowing - they appear to be floating.

I found fShadowBiasScale=1.0000 worked okay for me, or at least it'll do for me until bethesda fixes the problem properly.

edit: also turning off land shadows helped for me in outdoor settings, i.e. using bDrawLandShadows=0

I have that bug, but my land/tree shadows are, and always were set to 0. I tried setting the shadow bias scale to 1.0000, but nothing changed. I also tried setting the shadow filter, shadow mode, etc. to 0, still nothing.
These darn http://i1069.photobucket.com/albums/u476/arconacor/TESV2012-03-2715-40-16-53.jpg are there every time I walk under a tree or a similar object. I don't even have ENB installed, just http://skyrim.nexusmods.com/downloads/file.php?id=13049.
Also, it seems that d3d9.dll fixes the problem, but adds one too, since the underwater screen turns completely green. Now I have to choose between stripey shadows and not being able to see underwater.

Floating shadows that only appear to float if you squint at them too hard are acceptable. The kind of banding shown in the OP's screenshot is not.

I'll live with my floating shadows, thank you.

"Floating shadows" are very visible at sunsets/sunrises with a high fShadowBiasScale; it's at that time you should check, not during the day. I use 0.6 biasscale, which doesn't float very much, and it removes any (for me subtle) shadow lines on steep rocks and such.

What hlvr said. With a bias scale of 4 (as has been suggested a lot lately), the floating in the morning is attrocious, You don't even have to squint.

I'm using a bias scale setting of 4. Haven't noticed any floating at all, although I'm sure now that it's been pointed out I probably will.

Shadows have always looked like the south end of a northbound horse for me, so I've gotten very good at ignoring that they're there at all.

They seem to just be bigger for me at those times of day....especially character shadows but it is far better at least in my preference than shadow acne and striping(go hand in hand even if you don't get acne). I bumped up the bias a bit until I found a setting that blurred the striping out for the most part and doesn't make for huge shadows. Of course diff reso's displays etc. will act different I would guess.