Both horses get 25-30 lbs of Bermuda hay, depending on the weather and their work load (we don't have any real grazing to speak of, just enough to give them something to do when it finally comes up...). Their hay is broken up into 3-4 meals a day, depending on how much I'm home that day.
Once a day they get:
On this natural forage based diet, both of my horses have improved tremendously! They are calmer, have a better work ethic, my mare's heats are less noticable, my hard keeper Anglo Arabian (TBxArab) gelding keeps his weight on WONDERFULLY!, my fat mare doesn't balloon up so quick, their coats and feet are awesome, and they have plenty of energy for work. They also have great muscle tone and definition.
Before, when I used to feed grain or pelleted feed, my mare's heats were HORRIBLE, she would gain weight very quickly even on small amounts of grain, my gelding was getting a TON of food (6-8 lbs of grain a day!) and oil (2 cups!) to just keep weight on, they were both spooky in new places, and both would get cranky if we worked in the arena too often. I had to lunge or round pen both of them before even thinking of getting on... Trail rides were "fun"...
The whole barn switched to this kind of diet at the last boarding facility we were at. There were improvements all around! From yearling to old man, all of the horses did better, of course with some extras for the old man, plus his pellets were soaked to make them easier to feed.
Based on these experiences and my own research, I will try very hard to stay away from any commercially prepared feed or mixed grain for my horses. You can make your own fortified and balanced feed using hay pellets and/or beet pulp with a couple of extras, and it's SOOOO much healthier for the horse! It's just like people eating frozen dinners and packaged food versus good homemade food. You'll survive off the former, but you'll thrive on the latter.