I played some Warband last night and had a good time on a Battle server and then some Deathmatch.
Just in that clip alone, there's a world of difference. You can hear cavalry coming consistently. The camera doesn't take a second to swivel around. The polearm isn't clunky and sluggish. Turning around isn't pointlessly encumbered. The horse gets reared reliably, and it allows me to follow up with a decent attack. The chamber system actually works efficiently. The jump is functional and un-floaty. The whole thing feels responsive and fluid, easy to understand and unfettered by good-for-nothing details in the combat mechanics.
There's also much more personality in the equipment selection. You can tell more reliably who the newer players are (even from a distance) by their chosen armour, so there's more chance of better players going easy on them (as I do), rather than facing everyone as if they could potentially be the best player in the game. I literally saw someone write in the chat: "Dont kill nestor, he's a new player xD." He was easy to recognise, and I protected him from getting backstabbed. TW really aren't looking out for the little guy (by making everyone look the same) with Bannerlord's class system.