horses and more horses, we can't very well give players a Skeletal Deathcharger in Middle Earth. (Some folks complain about whether there's lore to back up the Moria goats.) We can at least have a black horse with bones painted on it.
Obtaining this horse is as simple as looting a chest in the haunted cellar once per 24 hours and hoping that you get lucky. I'm not really doing much on my LOTRO main at the moment, but you're allowed to log out standing next to the box, so there was no reason not to spend the one minute per day to log in and loot the thing.
That said, I don't know that I will ever use it again beyond the traditional screenshot. LOTRO's rep-based mounts are already somewhat better than the basic and festival options, thanks to increased HP (used to determine whether enemy attacks will dismount you). In the next patch, rep reward mounts will have 2.5x as many HP, will provide reduced damage from critical hits, and will allow mounted players to dodge, parry, and block attacks. The bonuses are so significant that there's no reason to ever use a regular mount again, other than social events and screenshots.
At least the screenshots are pretty though.