Xbox 360 wise - Do not install to console and you get better graphics. There is a bug at the moment. Longer load times but it looks better.
Bit of an erratic bug too, seems like it's not affecting some players at all.
Good workaround for the moment is to install it to a USB stick rather the the HD, preferably the fastest one you've got.
That's how I'm playing it at the moment, and I've only encountered two different texture bugs so far:
The stream right next to the main entrance of Whiterun (runs underneath you) sometimes it only shows the specular map with no texture, so it looks more like liquid metal than water. Also a specific castle I came across somewhere seemed to have two different sets of textures applied to it, one on top of the other, made it flicker/strobe like crazy.
Plenty more patches to arrive in the future I expect, though nothing so far has affected my gameplay.
Oh and War Dog + Expert mage followers (summons a fire atronach as well) + Horse + Me as a Werewolf, Vs Dragon = A very, very, dead dragon, very quickly.