Mounts give you 10 endurance point regeneration merely by riding them, because you are saving yourself the time and energy needed to walk around.
Mounts also can give you the ability to fly (if the mount can fly of course). Mounts are not party members, and do not block for you or protect you in any way — they can die like any other monster, and you can kill them, or feed them, if you wish.

While mounted, you can't use certain combat skills (such as dodge), and receive a penalty to others which require nimbleness, unless you have the combat riding skill. However, being mounted does permit you to do more damage with certain weapons.

You can use the following commands with your mount:
mount/dismount: to get on/off your mount
lead/unlead: to lead/stop the animal
pack/unpack: puts/takes items on/off your mount
view: view the items carried by your mount

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