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Mounts definitely shouldn't just be a different graphic models that increases your run speed by 110% or whatever.
Most mounts should have trouble traversing some kinds of terrains, giving players the option of both traveling by foot and with a mount.
They should also be costly, require feeding like suggested every now and then and be a hinder in combat unless you've trained to benefit from mounted combat.
IMHO, there shouldn't be any other mounts than just equine ones, and if there are - there should be very little linear progression to be had - different kinds of mounts would come with different restrictions in addition to benefits. Otherwise, sooner or later everyone will be riding on a griphon/bear/other top-level mount - which will ruin part of the feel of the world.