I think it would be cool in Oblivion if they had a splinter cell style walk run thing. eg. you could scroll the mouse to go faster but it would use up more stamina.
I played Splinter Cell and I know the walk/run system you're talking about. It would work in oblivion. In morrowind you didn't have an actual sprint, just Stealth/Walk/Run. If they would implant such an option like this, which I doubt, it would finally enable those with high atletics not just to run faster but possibly also to make a nice sprint when they need or want too.