Well with the mods I use, I don't "have" to cheat... heh... Convenient Horses also adds a way to make horse stamina infinite (or just a lot), but as a Vampire Lord with "Bat Travel Power Mod" I can just fly anywhere (although I do have the Magicka use/drain option on so it's not TOO cheaty) even though I can also use it as a fast travel to certain cities or saved locations ^_^
And also depends on what I might need it for... like for example if I want to play a Daedric Prince, a Divine, or something outside of TES lore like an angel, fallen angel, demon/whatever, then I might use "TIM" toggle immortality, but that's mainly for roleplaying purposes. I might do my own intervention quest when something happens my character might lose that immortality temporarily -- like if I were to wield a Daedric Artifact, I might lose my immortality while I possess it for example.