I have to note that micro stuttering is inherent to the GameBryo engine... Morrowind, Oblivion & Fallout 3 all suffer from it. It can never be completely removed.
On the xbox360 you obviously don't have any settings to tamper with and although it's not as bad as in the video, the game seems to be 'loading' (or whatever the stuttering is) constantly and you sometimes get hickups.
They're not really that bad but still kind annoying at times, added to the choppy animations of NPC's and the game feels choppy as a whole. It's not THAT bad, but still noticable at times, if you know what I mean.
Still not enough to bring me out of the experience though but it would be nice if it was fixed