Phantom Steed questions.

[Elkad]

How much does it weigh? Partially insubstantial should make it less than a regular horse. It could be much less.

Can the rider pick it up and carry it over an obstacle?

Can someone else (friendly) carry it over an obstacle?

Can I command it to do things? Stand still while I go elsewhere? Follow me? Run thataway across a lake in a straight line without me? Pull a cart?

Can it make any skill checks at all? Jump, swim, etc?

If it can't swim, can it run across the bottom of the lake?

Is combat riding possible? (not making it attack, just riding it in battle)

If so, do I have to make Ride checks as if it was untrained for War? It's mindless, so it shouldn't be spooked, but on the other hand, it's likely mindless, so it can't make it's own decisions about moving over rough terrain, around fallen bodies, etc)

Can I make Ride checks to make it leap, dodge blows (with Mounted Combat feat), use it for cover?

Can it be caught flat-footed? It has a Dex bonus to AC.
If so, does it have perception of some sort, or does it use mine? (It's flat-footed only if I am)

Oh, one more. Can it take the Run action?

[Psyren]

Actually, only the hooves are "insubstantial," so chances are it weighs only slightly less than a real horse.

As for your other questions, I interpret "horselike" as "like a horse except where stated otherwise." So I treat it as a really fast horse with powers that obeys commands (yours, or the person you made it for.)