Do you expect me to say that you can use skills points to upgrade your steed/animal like <img src="/ubbthreads/images/graemlins/beyond.gif" alt="" /> did with summoning dolls ?
Maybe the steed gets experince/levels in his own way and you can invest in his own skill points.
A few skills for a horse(part of me is shaking his head)
Leap- take your steed and right click...this will disperse a band of enemies givng you time to attack them.
Rage of the hoof- (lol) Your beast attacks an enemy knocking him off the damm screen...stuns him for 10 seconds.
Speed of the Steed-( <img src="/ubbthreads/images/graemlins/biggrin.gif" alt="" />)Increases your speed whic will help you outrun your enemies.
Mad gleam- You horse has the temporary ability to hypnotise an enemy with a glare of his eyes...