The animation when walking isn't as smooth as it was in 1.4.7 (although it's way better since the mc-8824 has been fixed), every second or so there's a stutter of about 1/100th of a second.
It's kind of looks like the jitter from the minecart bug that was before but to a much lesser degree.
There seems to be no stutter when going on a minecart though, only when waking.