Well, truth be told, with IF and extra armour (I figured I could upkeep a total of 56 body armour fairly easily without a horse and with my shield plus SCS combo, although it's not exactly a footman's weapon), it might be noticeably more survivable. But still... not a big deal, and the worst high-damage offenders like throwing don't give a toss if you've got 44 body armour or 56, it's still a twoshot.
I'm currently playing a 1h/crossbow horseman hybrid, it's fun and effective. More effective then the footmen I made? Slightly, yes, on maps which allow it, it's a bit weaker (well, noticeably to be honest) on foot then a pure 1h would be or a pure 1h/cav would be, but oh well. The extra efficiency on the cavalry-tolerant maps compensates, and I probably have more experience fighting on horseback then on foot.
If I went as a footman I'd almost certainly go for a 21/15 build, I had that last generation and it was effective when I was dehorsed despite the 5 skill points spent in riding, and split 1h/polearm proficiencies (well, that wasn't that much of a handicap actually since I'd grab my masterwork glaive sometimes for infantry maps, nice to have in combo with shield+sword).
By the way, it took me quite a while to get used to the 1h way of combat, it's fundamentally different then fighting with 2h/polearms. Someone used to fighting with a glaive needs time to cope with the fact he can't counterattack after a block everytime. But after some time even with the really slow SCS I could do reasonably well vs most people using some sort of modified Gnjus style.
Anyway, the whole story about cavalry needing a buff, no they don't. They've got plenty of upsides to compensate for the inability of cavalry to fight someone headon. The agility of horses (especially the superdupermaneuver line of horses) enables you to be the perfect backstabber. Sure, some people might detest that role, but it's what cavalry does. You can't have both the ability to be the super backstabber and being able to frontally charge. The fairly evenly split of yes/no suggests that cavalry currently is fairly balanced, since almost half the people fail at playing the class according to the poll (the people who voted "yes").