Rome: Total War is pretty much a disaster for the reasons listed above. The game plays in fast forward, and cavalry is pretty much as broken as you describe. More time is spent re-sacking your own cities to prevent revolt than is spent fighting the enemy.
If you want MTW in 3d, check out MTW 2. It misses many of the great things MTW 1 had, but it brings back the strategic combat and is a pleasure to watch the armies in action. It restored my faith in the series, which I had given up on with Rome. Most of the main problems (unit movement occasionally bugging) are simply related to re-using the Rome engine.
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