I really like it.
If you haven't already I would suggest reading the manual, this resolves a lot of the issues people are having with the interface.
Second, make regular use of backjump if you are a melee fighter.
and lastly you control the horses reigns, not the horse (ie tap forward and it starts to move, tap again and it canters, again and it gallops, tap back to slow down and steer with the left stick). They aren't too bad to move around on, but if you try to steer it in a way a real horse wouldn't go then it will do what it pleases including turning the other direction just as a real horse would. Horse combat however is dodgey.
A lot of people are slating this game because it isn't the accessible, mass marketed, toned down RPG that oblivion was. I think of this game more like Diablo, and I really enjoy it for that, but if you are the kind of person that loves oblivion but didn't like RPGs before that then this is not for you, it is a true rpg, not a medieval FPS. For me, however, I hated oblivion for the lack of progress when you level as all the monsters leveled as well. I prefer two worlds by a long way, as I've already spent more time, and had more enjoyment from this than oblivion ever gave me.
