In all honesty, I think you may have missed the golden age of Morrowind. Some people will argue that fast travel ruined the new ES games but I remember fighting the multitudes of cliff racers simply going from one town to the next (if it didn't have a mage's guild or silt strider).
The story is amazing, but after the advances the newer ones made, it may be frustrating if you don't have a grinders tolerance.
Edit: I haven't played said overhaul...so my objection may be moot. Also lets go on record that I haven't had as much fun with a game as Morrowind since BG2.
There were also boats for fast travel. The Mark and Recall spells saved tons of time, and you could get scrolls (depending on the roll for the guild when you enter the city) that allow you to fly quickly from the Ald'Ruhn Mages Guild. Heaven forbid they throw in a touch of realism for immersions sake. And, for the record, I prefer vanilla Morrowind (graphical upgrades are fine) as I actually enjoyed the D&D style combat.
Whatever man, if I wanted realism I wouldn't play a fantasy game. Tedious is tedious and fast travel is one of the most welcome changes to TES IMO. I'm giving the TC my 2 cents like he asked for. --- "Blood and souls for my Lord Arioch!" - Elric of Melnibone