I installed the patch just now cause my game crashes as soon as I enter Aleroth (in the second phase) hoping the patch might fix that but it doesn't and what's worse is that I have a lot of seethrough surroundings now including my own character.
I can see them but can also see through them which doesn't allow for the best perspective. Seeing that my game now crashes in Aleroth (even after reinstalling) it might not be representative but I thought I should let you know nontheless.
I'm running Vista 64bit and use a Nvidia Geforce 8800 GTS.