Never played Mount&Blade, but how would riding through enemies work in a DnD based game? Wouldn't really make sense to implement a complex rule-system to incite tactical fights, and then just rush with your horse through enemies like a tank. That could probably work in some kind of an action game, though.
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You're right. Riding horse by clicking around is ridiculous. So lack of horses is no big deal for NWN2.
But in a CRPG like Oblivion or Gothic, there should be horses. It is REALLY very fun