I think it looks nice, but that's more for single player (IMO). Even on my last generation computer that was pretty beastly I ran into fps issues in some multiplayer mods for warband. Not to mention I would hate to have collision issues where you collide on trees or objects that you can't see, I know that has been a problem in the past. It runs great on my new system, but you can't expect everyone to have a new computer, especially when playing a game that was released during the last generation of computers.
Not to mention, the link you provided is for a M&B mod, not a warband mod. SO I don't think it would be easily ported.