For now I own a horse, that I only use when traveling, but more for roleplaying purposes. For what I read here, it seems that I will end up with the horse dead, but it seems I've been lucky, as it has survived many dragon flames, bandits and other stuff (low level, anyway, as I'm at 12).
The way of playing I chose (at least for this first char) is to always walk, and I mean actually WALK, unless I'm on a difficult fight or some specific situation when running makes sense. It's what I would do in real life, so playing on first person and be able to move at normal speed, while looking around, picking herbs and looking at landscapes feels better for me than runing like in a Quake game. Actually, I started the game without a horse and had to walk to my first city (Riverwood) and then to Whiterun. It was slow, but fun.
I later acquired the horse, and with it I use the run mode (not sprint) when I'm going to one place to another. What I mean is that I enjoy to be able to move fast on a horse, because it makes sense (as I'm sit there), but I don't enjoy runing with my feet here and there.
Anyway I'm thinking on forgetting about the horse eventually, because I have the same issue that some people reported here: not being able to pick herbs, dismount everytime something aggresive is around, etc...
