I am 70 hours in and just encountered the same issues. Long loading time between areas and cutscenes. Floor textures either missing or appearing as water, and if you step on those areas you fall through the floor forever. This applies to the companions and not just you. The Necropolis Halls are now unplayable. I'm trying to do an Emmerich quest where I'm supposed to follow him, but then he gets caught in those floor gaps and can't get out, stopping the quest from progressing. I've restarted the Xbox, quit and restarted the game, and tried going to earlier saves, but nothing helps.
I take it back. The entire game is unplayable. It seems that any texture that renders over water or involves water is simply gone. For instance, the streets near the waterfront in Docktown are missing, making it impossible to navigate. The Necropolis Halls have lots of water elements, leaving gaps. I haven't tried the other areas, but it seems a universal problem.
I've also noticed other glitches , like the teeth of companions looking stained. I suspect it's a problem in rendering that wet look teeth can have. While I appreciate some realism in medieval style games, bad teeth might be a step too far. :)
I'll need to stop playing until another update comes out. There is no way to move forward with these problems in place.
