I'll and my 2 cents...which is probably what it's worth. I'd always been stable since original M&B .9xx (right before it came out of beta) and had remained so up through I believe warband 1.113 if I'm not mistaken. After coming back from a break and going to 1.127 I've had problems. My particular system doesn't like something that changed between those versions.
During that time span there has been no changes to my system other then video driver upgrades (gtx260). I realize new drivers can sometimes cause problems with older games but I'd think that since they are actively updating the game they'd also keep up on drivers.
Anyway, the problems I notice are occasional CTD, like has been descibed, but only every few hours, not as severe as some of you. It seems to have gotten more frequent on the latest patch however.
Next is a sound problem. Running around the campaign map the sound will occasionally stutter, like loop back and replay 1 or 2 seconds of music and then continue on.
Third is an occasional 1 seconds or so pause that happens during battles. It can happen at any time, any size, no particular pattern to it. The game will completely stop for about 1 second and then continue on. Actually it's not just during battles, it also happens sometimes in castles and walking in town. It doesn't happen every battle, but I usually expect to see it once or twice every 4 or 5 battles.
None of the fixes posted in this thread have helped, except I haven't tried directx 7 yet. System is core 2 duo 3.0, windows 7 64, gtx260, evga nforce 780i, crucial realSSD.