I installed this. Took me pretty much all day, and there's a weird issue where I can't play fullscreen, but all I have to do to fix that is alt+tab out of the window and maximize. Yeah, it looks amazing, and it actually does include a few non-graphical mods, like adding more random, nameless people to the world (so it seems less empty) like drunkards that want to fight you, commoners that do nothing, and travel companions. There's a few other fixes, like being able to make stronger spells, and other little tweaks. Nothing game-changing, or to give an unfair advantage. Mostly just stuff that really should have been implemented in the original game.
I like it.