I finally received my Asmus Nazgul this week.
Out of the box, it was basically as expected. I couldn't stand the seam on the hood, and some joints (shoulders, elbows) were a bit loose/floppy. My original intent was to replace the body, and make a new hood for him.
As soon as I had some time this Saturday, I stripped the body completely, to inspect how everything works. After tightening the screws on the body, most joints are actually nice and tight now, so I decided to keep the stock body on him afterall. I did remove the original wrist pegs and modified the forearms slightly to accept more sturdy hand pegs, so I can easily replace the hands now.
I left off the thigh, knee, and upper arm armor, as that's completely hidden anyway and would've just added unneeded bulk. I made him a new skirt using some black fabric I still had from an old project, to hide his legs some more, and shredded the original clothing a lot to make everything flow. Then I made a new hood as well, though I'm not completely satisfied with that, yet. Funnily enough, I made the new hood with that head replacement/shape in place, but decided to remove it, and the hood still sits nicely in shape, without anything holding it.
I already prefer him much more than out of the box, and didnt spend any additional money on him. I still have more plans for him, like weathering all the clothing and gear, but I'll do that another time.
For now, here's what he looks like, unweathered and without water treating him.