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The amount of time required to implement this feature (both in terms of programming and art) and the low return (basically it isn't a feature that everyone would want/use) is why its never really been anything we've put effort into, either from a planning or development perspective.
Because of the size of our team (and not just at present, but going back all the way to late-2004) we've had to be careful with the things we choose to develop. We typically focus on things that have a high return, such as high-level content, low-level content, performance improvements, plot/lair art, and that sort of thing. These things have a high return because they either a) appeal to the long-term folks, b) appeal to new players, or c) are for plots and thus appeal to just about anyone.
And if a player can add to this - to expound on the statement "the game does not support it." Devs have posted in the past (long before this thread, so not sure I can find the quotes) that the game engine itself does not support *mounts* of any type. Wether its players on horses or other in game mounts, or players on Dragons. The engine itself does not allow for it. They'd have to recode the engine (as in possibly an entirely NEW game engine) to make it possible.