I walked from Chorral to Cheydenhal to get my Black Horse. It took 30 min in realtime but is was fun and you find more forts, caves and shrines that way.
Some things I'm noticing with the black horse:
It sometimes wanders off while your in a cave or fort.
More things attack while your riding it, seemingly, than the Priory horse.
It sometimes gets attacked while your in a cave or fort.
Just last night I left the horse outside a cave and when I returned, it was gone. I looked for several minutes and could not find it. So, I fast traveled to the nearst town, this worked when I lost the Priory horse, but arrived on foot, no horse to be found. I had to load the previous save to get my horse back. Also, last night I came out of another cave and there was a dead mudd crab and a dead wolf at the feet of the black horse; its health was almost depleted.
I'm considering a reinstall of Oblivion because the gameplay is getting choppier as the levels go on. I expirenced the same with Doom3. Does anyone know if reinstalling and moving over the last 3 or so gamesaves will eliminate the choppyness ?