Morrowind:Pemenie and the Boots of Blinding Speed

Quick Walkthrough
#Meet Pemenie on the road northwest of Caldera.
#(Optional) Escort her to Gnaar Mok.

Detailed Walkthrough

Pemenie needs an escort
Find the trader Pemenie on the road northwest of Caldera on the way to Ald'ruhn. She will ask you to escort her to Gnaar Mok in return for the Boots of Blinding Speed.

Your reward has a Flaw
Agree to do so and escort her to Gnaar Mok to the west. Either walk directly there, or if you want to avoid fighting any creatures, simply walk back to Caldera and then fast travel via guild guide to Vivec and take the boat from there, and Pemenie will follow the entire way. Once you enter Gnaar Mok, you will be rewarded with the boots. The boots Fortify Speed by 200 points but also have a 100% Blind spell on them, meaning you'll be fast, but have no idea where you're going unless you navigate using the minimap in the corner of your screen.

Wearing the Boots
The trick to using the boots is to use a Resist Magicka spell or item before equipping them. If you have 50% Resist Magicka, you'll only be 50% blind, meaning that things will be a bit darker and enemies will be tougher to hit (with weapon skills under 30, you may not be able to hit anything at all).
The easiest way to get to 100% Resist Magicka is to buy Cheap Resist Magicka potions from Eris Telas in the High Fane (he restocks it, and also sells to anyone regardless of faction rank or membership). Each potion costs around 15 septims, and can be stacked. This even works for races with Magicka Weakness, like Altmer; you just need to buy more potions.
You can also cast a Resist Magicka 100% for a couple of seconds (buy a custom spell or a custom enchanted item) and then equip the Boots of Blinding Speed before the time expires to avoid all negative repercussions. Since the spell has such a short time of effect it will be relatively reliable and easy to cast. If however, you are already suffering from Weakness to Magicka, you will be unable to do this with just one spell because the Resist Magicka 100% will be counteracted by your Weakness to Magicka. You can still reach 100% resistance by stacking multiple magical effects from different sources (even just identical custom spells with different names will work, although activated enchanted items may be more effective due to their instant casting.)
Night Eye will brighten your vision and help counteract the blinding effect if it cannot be resisted 100%.
The Cuirass of the Savior's Hide is very useful with the boots, as it gives you 60% resist magicka.
Bretons have a racial ability of 50% resist Magicka, so a Breton equipping the boots will only get a 50% Blind effect, which is quite bearable.
If you don't have 100% magicka resistance when equipping the boots, you can simply adjust the brightness of the game in the video options to see better, but a partial Blind will still have a negative effect on your ability to hit enemies.
While wearing the boots, a weak 1 point Levitate (as provided by e.g. the Wizard's Staff) will make you fly at a comfortable speed.
Beware that the boots have very low durability. If they are broken in a fight, they will be unequipped and you will be slow again.

Notes
You can find out from people in Caldera or Gnaar Mok that Pemenie is a wanted felon with a bounty on her head. If you talk to her repeatedly about bounty, she will eventually stop following you. If you continue talking about her bounty she will attack you. If you kill her then you will be able to get the Boots of Blinding Speed regardless of whether you took her to Gnaar Mok or not.
Pemenie can be a bit tricky to find. After leaving Caldera through its north gate, take a right at the first crossroads you come to (near Hlormar Wine-Sot), then a left at the second crossroads (the main road towards Maar Gan). You should run into Pemenie soon after.

If you have the Tribunal expansion, you can donate the boots to the Museum of Artifacts in Mournhold to help you with a quest.

Bugs
 

Quest Stages