You don't have to constantly jump to go faster, which always puts your fatigue to 0 so u can't cast spells :P
You can take off the ring anytime too if you want. So you endup walking which is the equivalent of running. Its so fast that its unusable inside houses or dungons. It'll get you from Balmora to Seyda Neen or Vivec in under one minute. Walking speed is about the speed of a REALLY fast runner, and running speed is FAST. Haven't you heard of the ring of speed? Its a mod that gives you a ring that adds 500 pts to speed!! View image: /infopop/emoticons/icon_eek.gif