Mounted Warriors do have one thing going for them that has not been mentioned yet: blocking tricks. A 2-move unit is much better at making the AI dance around (critical on Sid) than slowmovers. But this has nothing to do with mixed-unit forces.
I have X number of cities with enough production to build swordsmen/horsemen (Immortals/MW). With Persia, some of those cities are going to be dedicated to building horsemen, leaving me, say, 80% of X to produce Immortals. With the Iroquois, I'm probably not building any swordsmen, leaving me 100% of X to produce MW. I've got the three attack, and in a better package with the two movement, and if I need the two defense, chances are I've already built a spearman or two. On the other hand, there are some functions, like tagging strays, blocking settlers and chasing barbs, that four attack is far less useful for than two movement.
For the record, my favorite UU's (that I've played):
1. Berserk - easy choice for an amphibious assault addict.
2. Mounted Warrior - three attack and two movement.
3. Javelin Thrower - nice early offense and defense and captured workers can be a huge boost early on.
4. Panzer - comes after the game is decided, but lots of fun.
5. Gallic Swordsman - expensive, but a tough early three attack, two movement unit.
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