Forgive me if I have interpreted this incorrectly and correct me if, indeed, I am travelling down the wrong path, but walking around without a mount really does provide a renewed sense of adventure with excitement to boot. Believe it or not, players rely more on methods and tactics that are not used when one has the privilege of tapping their heels and galloping off into the sunset. Perhaps add what has already been said to an event style occasion, at least then we could see if it would work or not and have no fear about changing it back to normal if expectations are not met.
No... Running around is NOT the adventure.. However you may do some running while on your adventure.
Recall allows non-combatants to select to a degree if they will fight. If your a solo bard... and you see a gang of henchmen headed your way you can recall out. It balances the scales. A solo bard was not going to win that fight, and elminated the fight. However if a group of 6 people out for blood come across another group of people they will likely fight if both groups are inclined to do so..
removing recall or disallowing recalls use in dungeons would only serve larger groups of ganking. It would not raise the quality of battle, or the consistency, and in fact would drive off a huge amount of the player base.
Yes you're so hardcore.. This is just a bad idea...