Shadazar,
I watched last night as I was playing, and I noticed a tiny amount of "bobbing" while using the mouse, but not enough to really notice. I'm running in Hardware mode at 640x480, so that may help...also, I remember that I "bobbed" a lot until I got the hang of the interface. Keeping the mouse steady while holding down the right mouse button can really help.
I do know that W&W is not a game you want to play while you're intoxicated! (I know...I tried!

Was quite an experience, to say the least.)
-Sazerac