That's what I do. All the time. It's my game. So let me talk about horses.
There are two types of horses for me. Armored and Naked. They are totally different and should be balanced seperately.
Pre-patch, Armored Horse were balanced. They were the sound of plodding inevitability. Slow, so you can mostly maneuver around them, nearly indestuctible so you get trampled and can't do anything about it (to the horse). Cost in Gold is very high and Upkeep is as well. King of Defensive attacks. You could still kill them with a headshot, but if you didn't you would eventually get trampled to death.
The latest patch makes them a joke. I feel bad for them given the expense.
Pre-patch, Naked Horses were overpowered. The low end horses were overpowered by far. They are fast, maneuverable, cheap in terms of gold and upkeep, and cheap in terms of skill requirements. Their speed allows them to move in and out of a scrum with minimal exposure to ranged attack. Usually an archer will get 1 shot on the incoming charge, and maybe 1 shot outgoing at most.
The speed and maneuverability is great enough that ranged can't strafe out of the way without 6+ Athletics unless you start strafing while the horse is far enough away for the rider to change course (and get you). These horses are nearly as tough as the armored ones when it comes to how many arrows it takes to bring them down. LIES! You say? I'm certain the geeks with their numbers can show how AxB/1.5*Y^3 > Jello, but I know about how many arrows it takes in the field actually using the game engine for calculations. It takes the same number of arrows to bring down an Armored Horse as it does a Naked Horse when they are charging at you. LIES! No, not lies. Due to the Speed bonus, and (my opinion here) the larger head on the armored horses, I am just as likely to kill the Cataphract as the Rouncey.
If you know GrannPappy, you know how I got these opinions. I spawn, I walk out into the middle of an open field, and I dare cavalry to take me on. Not crunching numbers or sniping from rooftops.
Armored Cavalry needs a buff in terms of damage it can take. Do not mess with speed or maneuverability. Just make them the tanks they are supposed to be.
Naked Cavalry needs a serious nerf on the low end, and a mild one in the middle. They are the fastest, most maneuverable, AND can take nearly as many hits from ranged before going down. They can accelerate nearly instantly and rotate on a stripper pole. They are cheap in terms of gold and skills. Lose a Cataphract on the field and you are walking or finding an inferior ride. Naked Cavalry is so cheap and plentiful, there is almost always another one you can just whistle up and take off again!
TLDR; - Buff Armored Cavalry, Nerf Naked Cavalry