I had fun making ridiculous amounts of enchanted items for everything in Morrowind. I missed that in Oblivion.
Yes, I know you could still enchant, but unless it was a wand, which weigh a lot, it would only work as a passiv effect when you're wearing it, and wouldn't let you shoot any fireballs or cool shit like that.
Now, GW, I'm no expert...well, actually I'm a noob, but anyway: why don't you just get a crack?