For the ambitious among you:
http://skyrim.nexusmods.com/downloads/file.php?id=11Does require a restart. It's not a mod per se, but a guide to mods, bugfixes, and tweaks that are KNOWN to work, including installation order and BOSS ordering, and only covers mods that don't alter the essence of the game.
To get an idea of feedback from folks who are following STEP, you can read the forum section at that link.
I decided to give STEP a try. The install and tweak process took a few hours. I've only played a few minutes, just getting into Helgen Keep, but am impressed so far (MUCH better looking armour, dragon, which is 4096x4096 I think, rocks, and fire effects). Runs well and looks significantly better. Too soon to tell for sure, but I like what I see.
(Edit)- A few hours later, and I can vouch for the STEP method. The game looks fantastic, and plays very well. Haven't messed around with increasing ugrid size though, because the visuals are significantly improved. Dungeons are dark now, so you'll need a torch or some such, and there are added ambient sounds that make exploring them a much creepier experience.