Warband has been around much longer than Skyrim. Also, "good" graphics aren't the only thing that matters in a game. I grew up playing 1602 AD and Morrowind. The first time I saw the graphics when I played Call of Duty: World at War, my jaw dropped because the graphics were so amazing at the time. If you're /only/ looking for Graphics, Warband isn't really the game for you. If you're looking for incredible replay value in a sandbox environment, you've come to the right place.
I've definitely got it working at some point in the past. Think I used the Burnout Paradise version or something. Just dumped all the files into the Warband directory and adapted/followed instructions. Wasn't much trouble at all.