People always seem to get the wrong "realism" wrong when it comes to describing games or people who want them to feel more "realistic". The simple fact that the word has such a broad meaning makes it easy to be manipulated in every way possible, especially by those people who argue against it.
When we approach the topic of realism in games, it is essential to understand what one really means by "realism". What usually happens is that many people simply take the word out of context, chew it to their liking and then throw an argument against that particular person without any regard of what he really meant to say. The result is, as we can see, quite a load of unnecessary hostility between two groups of people.
In Warband, one can argue that many, if not all the aspects of the game don't correspond their real life counterparts, which is indeed true, but there's a catch: you need to understand what the game is trying to achieve. Mount&Blade is a franchise that emulates real-life processes in the context of a game, which means that total realism cannot be achieved and is not even desired. Some elements are distorted here and there to make things dynamic and fun, without all these boring peculiarities that we all know in real life, like dropping your pike on the ground or having battles that last for entire weeks. What can't be argued against though is that they developers are trying their best to immerse you into a specific time frame and make you taste all the little aspects of the Medieval life, bu miniaturizing them and presenting them in an intuitive and practical way for you to enjoy. Therefore, I'm inclined to think that the intention of those people around here suggesting for more "realism" isn't to add some unnecessary detail that would eventually force you to click twice as much just to achieve the same thing, but to enhance that exact feeling I have explained in the phrase above, by correcting some things that may eventually look more or less ridiculous. A compromise can always be achieved by having the game play the same, and yet make it look and feel believable. I suppose this is exactly what the people mean by "realism".