EnnPeeCee

I just got through having steam verify the game files, to no avail. I'm also back to suspecting my processor. I installed Orcs Must Die, another game that requires 2 cores, and the main character didn't load. Is this something a driver update would fix?

You should move your SkyrimPref.ini & Skyrim.ini to your desktop (or delete them if you choose to) and let the game generate new ones, that might fix the problem 'cause it might be some kind of rendering issue within the .ini files. Alright, I tried that, but nothing was different. Things still don't load. I'm beginning to question whether its my processor or not. The computer does not make much noise while Skyrim is running (unlike other intensive games), and the processor indicator light barely blinks.

I tried defragging my computer, but it didn't change anything.

First off, let me preface this by saying that I realize that my comp's processor is below minimum specs. I would like to find out if this is what is causing my issue, or if it is something that I can fix. While I'm running around, most objects and NPCs around me take a long time to load, or don't load at all. The objects I can see seem to be stuck in their "distant" low quality models; they are flat, low texture, and I can walk through them. Sometimes the actual model will load while I am looking at it, usually not. I can get some models to load by looking away, opening and closing a menu, then looking back. The recommended graphic setting for my system are Medium, which other than this problem, runs fine. I have tried lowering everything to their minimums, but this had no effect on things loading. My guess is that my processor (AMD Athlon 64 3800+) is not enough to load the objects. If it sounds like it is something else though, please let me know.