To balance, make the player's spell ranks affect how many times the spell can be used.
Of course, i don't know how well this would work. I would guess the script would have to contain information about every usable spell.
Active Mod Files:00 Oblivion.esm01 You Are Here.esm02 All Natural Base.esm [Version 0.9.9]03 Francesco's Leveled Creatures-Items Mod.esm04 Francesco's Optional New Items Add-On.esm05 Cobl Main.esm [Version 1.72]06 Mart's Monster Mod.esm [Version 3.7b3p3]07 Open Cities Resources.esm [Version 01]08 CM Partners.esm09 Toaster Says Share v3.esm0A CustomSpellIcons.esm0B PMSneakySummons.esm0C Nic-V's Lockable Houses.esp0D TradeShip.esp0E Boxworld.esp0F CM Armor Expansion.esp10 Unofficial Oblivion Patch.esp [Version 3.2.5]11 UOP Vampire Aging & Face Fix.esp [Version 1.0.0]12 Oblivion Citadel Door Fix.esp13 DLCShiveringIsles.esp14 Unofficial Shivering Isles Patch.esp [Version 1.4.0]15 SM Plugin Refurbish - SI.esp [Version 1.30]++ MOBS SI.esp [Version 1.2.2a]16 Fra.esp17 FranOBSEConfig.esp [Version 0.5]** LoadingScreens.esp18 Lem - Modified Weather.esp19 Natural_Habitat_by_Max_Tael.esp1A All Natural - Real Lights.esp [Version 0.9.9]1B All Natural.esp [Version 0.9.9]1C All Natural - SI.esp [Version 0.9.9]++ All Natural - EW + NW + AWS.esp [Version Final]++ no_wind-2578.esp1D Enhanced Water v2.0 ND.esp++ Symphony of Violence.esp1E MIS Low Wind.esp1F Rainbows.esp20 WindowLightingSystem.esp21 AmbientDungeons.esp [Version 1.3]** Book Jackets Oblivion.esp22 VanityCameraSmoother.esp23 ClocksOfCyrodiil_BC_OBC_OC_OCLR_Vanilla.esp24 Guiding Beacons.esp25 Not a Bedroll.esp26 phinix_master_summon.esp27 Q - More and Moldy Ingredients v1.1.esp28 SM Soul Delete.esp [Version 1.00]29 TryBeforeYouBuy.esp2A Update My Statue.esp [Version 1.30]++ VA_BetterGold.esp2B Choices and Consequences.esp [Version 2.02]2C Map Marker Overhaul.esp [Version 3.3.1]2D Map Marker Overhaul - SI additions.esp [Version 3.0.2]2E DLCHorseArmor.esp2F DLCHorseArmor - Unofficial Patch.esp [Version 1.0.5]30 DLCOrrery.esp31 DLCOrrery - Unofficial Patch.esp [Version 1.0.3]32 SM Plugin Refurbish - Orrery.esp [Version 1.11]33 Choices and Consequences - SM Plugin Refurbish - Orrery.esp [Version 2.0]34 DLCVileLair.esp35 DLCVileLair - Unofficial Patch.esp [Version 1.0.5]++ SM Plugin Refurbish - VileLair.esp [Version 1.21]36 DLCMehrunesRazor.esp37 DLCMehrunesRazor - Unofficial Patch.esp [Version 1.0.4]38 SM Plugin Refurbish - MehrunesRazor.esp [Version 1.30]39 DLCSpellTomes.esp++ DLCSpellTomes - Unofficial Patch.esp [Version 1.0.1]** Book Jackets DLC.esp++ MaleBodyReplacerV4.esp3A KohdiBladesofAnkewan.esp3B KohdiArmoryofAnsephaer.esp++ RTFemaleReplacerV12.esp3C Dude Wheres My Horse.esp3D DLCThievesDen.esp3E DLCThievesDen - Unofficial Patch.esp [Version 1.0.5]3F DLCThievesDen - Unofficial Patch - SSSB.esp [Version 1.0.4]40 SM Plugin Refurbish - ThievesDen.esp [Version 1.30]41 Francesco's Optional Chance of Stronger Bosses.esp42 Francesco's Optional Chance of Stronger Enemies.esp++ Francesco's Optional Vendor Tweaks.esp43 Francesco's Optional Files 1.esp44 Francesco's Optional Files 2.esp++ Francesco's No Reduced Backwards Running.esp++ FranDarkSeducerWeapFix.esp45 Slof's Oblivion Robe Trader.esp46 Cobl Glue.esp [Version 1.72]47 Cobl Si.esp [Version 1.63]++ Cobl Tweaks.esp [Version 1.44]++ COBL-FransCre.esp++ mg19obsefix.esp48 OBSE-Storms & Sound SI.esp49 Mart's Monster Mod for Fran.esp [Version 3.7b3p3]++ Mart's Monster Mod - Shivering Isles.esp [Version 3.7b3p3]4A Mart's Monster Mod - Additional Enemy NPC Vars.esp [Version 3.7b3p3]++ Mart's Monster Mod - Diverse Imperial Armor.esp [Version 3.7b3p]4B Mart's Monster Mod - Gems & Gem Dust.esp [Version 3.7b3p3]++ Mart's Monster Mod - Looting NPCs & Creatures.esp [Version 3.7b3p3]4C Mart's Monster Mod - Zombies for Body Meshes.esp [Version 3.7b3p3]4D Mart's Monster Mod - Fran's leveled quests.esp [Version 3.7b3p3]++ Mart's Monster Mod - Less Reavers.esp [Version 3.7b3p3]++ Mart's Monster Mod - Safer Roads.esp [Version 3.7b3p3]4E Mart's Monster Mod - No Carrion Rats.esp [Version 3.7b3p3]++ Mart's Monster Mod - No Blood.esp [Version 3.7b3p3]++ Mart's Monster Mod - No Bone Loot.esp [Version 3.7b3p3]++ Mart's Monster Mod - No Undead Rise.esp [Version 3.7b3p3]++ Mart's Monster Mod - No Slimes.esp [Version 3.7b3p3]++ Mart's Monster Mod - No Lanterns.esp [Version 3.7b3p3]++ Mart's Monster Mod - No Adventurers.esp [Version 3.7b3p3]++ Mart's Monster Mod - No Pests.esp [Version 3.7b3p3]++ Mart's Monster Mod - No Uberhulks.esp [Version 3.7b3p3]++ Mart's Monster Mod - Spawn Rates - Reduced Reduced.esp [Version 3.7b3p3]4F Mart's Monster Mod - Dungeons of MMM.esp [Version 3.7b3p3]50 Mart's Monster Mod - More Wilderness Life No Gates.esp [Version 3.7b3p3]51 Mart's Monster Mod - Extra Wounding.esp [Version 3.7b3p3]++ Mart's Monster Mod - Slof Horses Complete.esp [Version 3.7b3p3]++ Mart's Monster Mod - Diverse Runeskulls Loot G&GD.esp [Version 3.7b3p3]++ MMM-Cobl.esp [Version 1.69]52 Blissful_DreamsCOBL.esp53 BHC_Expanded.esp [Version 1.2]54 Clamshell_Cottage_v1.5_COBL.esp55 Cliff_PersonalGuildStorageChest.esp [Version 1.0]56 Companion Gate.esp57 Dank Dark Cave-Final.esp58 Forgotten Tomb.esp59 FuseSnailRacing.esp5A Ivy Cottage.esp5B Kragenir's Death Quest.esp5C KDQ - Rural Line Additions.esp5D Lem - Celestial Lagoon.esp5E Lem - The Nether.esp5F Lem - The Rift.esp60 Lem - The Scar of Sithis.esp61 Lem - Sunken Fortress.esp62 LostSwordOfTheAylied.esp63 LostSwordOfTheAylied - OBSE Add-On.esp++ LostSwordOfTheAylied_delayer.esp64 MadMagesTower.esp65 Salan's Cellar.esp [Version 09]66 SRJmarasProtection.esp67 SRJtrollKajsa.esp [Version 1.5]68 Star's Rest.esp69 Star's Rest - Ayleid Well.esp6A swamp home cobl.esp6B The Ayleid Steps.esp [Version 3.0]6C Ushnar's Re-Skinned Hound.esp6D Cyrodiil Travel Services.esp [Version 1.3]6E DLCBattlehornCastle.esp6F DLCBattlehornCastle - Unofficial Patch.esp [Version 1.0.4]70 SM Plugin Refurbish - Battlehorn.esp [Version 1.30]71 DLCFrostcrag.esp72 DLCFrostcrag - Unofficial Patch.esp [Version 1.0.4]73 Knights.esp74 Knights - Unofficial Patch.esp [Version 1.0.9]75 SM Plugin Refurbish - Knights.esp [Version 1.06]++ Mart's Monster Mod - Knights.esp [Version 3.7b3p3]76 OCC-KOTN-Patch.esp [Version 01]++ DLC_MOBS.esp77 TOTF.esp78 OCC-TOTF-Patch.esp [Version 4.2]79 RTT.esp7A OCC-RTTv3 Patch.esp [Version 1.1]7B The Lost Spires.esp7C OCC-Lost Spires-Patch.esp [Version 2.0]7D Shadowcrest_Vineyard_COBL.esp7E Improved Imperial Infrastructure.esp7F road+bridges.esp [Version 4.5.4]80 NRB4+Vineyard Patch.esp81 NibenRiverFix.esp82 xuldarkforest.esp [Version 1.0.4]83 LostSpires-DarkForest patch.esp84 xulStendarrValley.esp [Version 1.2.2]85 xulTheHeath.esp86 XulEntiusGorge.esp87 xulFallenleafEverglade.esp [Version 1.3.1]88 LostSpires-Everglade patch.esp [Version 1.2]89 xulColovianHighlands_EV.esp [Version 1.2.1]8A xulChorrolHinterland.esp [Version 1.2.2]8B xulBeachesOfCyrodiilLostCoast.esp [Version 1.6.4]8C ForgottenTomb-LostCoast patch.esp8D xulBravilBarrowfields.esp [Version 1.3.2]8E xulLushWoodlands.esp [Version 1.3]8F xulAncientYews.esp [Version 1.4.2]90 xulAncientRedwoods.esp [Version 1.6]91 xulCloudtopMountains.esp [Version 1.0.3]92 MadMagesTower-CloudtopMountains patch.esp93 xulArriusCreek.esp [Version 1.1.3]94 xulPatch_AY_AC.esp [Version 1.1]95 LostSwordoftheAyleids-ArriusCreek patch.esp96 xulRollingHills_EV_withoutWheat.esp [Version 1.3.2]97 xulPantherRiver.esp98 xulRiverEthe.esp [Version 1.0.2]99 xulBrenaRiverRavine.esp [Version 1.0.2]9A xulImperialIsle.esp [Version 1.6.3]9B FuseSnailRacing-ImperialIsle patch.esp9C xulBlackwoodForest.esp9D xulCheydinhalFalls.esp [Version 1.0.1]9E TearsOfTheFiend-CheydinhalFalls patch.esp9F xulAspenWood.esp [Version 1.0.1]A0 xulSkingradOutskirts.espA1 Open Cities New Sheoth.esp [Version 01]A2 Open Cities Outer Districts.esp [Version 01]A3 Open Cities Full.esp [Version 01]A4 OCC-ULCH-Patch.esp [Version 2.2]A5 NRB4+UL-II+OCOD Patch.esp [Version 3.0.1]A6 OC+Cheydinhal Falls Patch.esp [Version 1.0]A7 III-RoadBridgesPatch.espA8 Harvest [Flora].esp [Version 3.0.0]++ Harvest [Flora] - Shivering Isles.esp [Version 3.0.0]++ Harvest [Flora] - DLCVileLair.esp [Version 3.0.0]A9 Harvest [Flora] - DLCFrostcrag.esp [Version 3.0.0]AA Auto Potion.espAB Ayelid Wells.espAC Birthsign Zero.espAD Cliff_BetterLetters.esp [Version 01]AE Cliff_CountyNames.esp [Version 1.1]AF DecoratorAssistant with OBSE v1.1.espB0 DropLitTorchOBSE.esp [Version 2.4]B1 Dungeon Actors Have Torches 1.6 DT.espB2 First Person Messages.espB3 gardening.espB4 ImprovedSoulgems.esp [Version 1.11]++ NoWindSI.esp++ Enhanced Vegetation [100%].espB5 Side's Backpacks.espB6 Side's Backpacks (COBL).espB7 SkillSpecialization.espB8 Slof's Epona.espB9 Toggleable Quantity Prompt.esp [Version 01]BA Wrye Shivering.esp [Version 08]BB Wrye Shivering Death.esp [Version 05]BC Quest Award Leveller.esp++ Quest Award Leveller - Battlehorn Castle.esp++ Quest Award Leveller - Vile Lair.esp++ Quest Award Leveller - Mehrunes Razor.esp++ Quest Award Leveller - Knights of the Nine.espBD SM Encumbrance and Fatigue.esp [Version 2.6]BE RealisticForceHigh.espBF RealisticMagicForceHigh.espC0 GalerionUnarmoredAcrobatics.espC1 ConduitMagic.espC2 Disenchant.espC3 SetEssentialActors.espC4 TeachSpell.espC5 RefScope.esp [Version 1.3.0]C6 MidasSpells.espC7 OC+Midas Magic Patch.espC8 AudaciousMagery.espC9 Disease Immunity (Oblivion + Shivering Isles).esp++ Josef Grey's Natural Starlight.espCA SigilStoneSelector.espCB EnchantmentRestore.espCC SM Combat Hide.esp [Version 1.2]CD SM Security.esp [Version 1.2]CE Toaster's Brutal Stealth.espCF SM Bounty.esp [Version 1.22c]D0 CoblDeathFix.esp [Version 1.20]D1 SM Hand Combat.esp [Version 1.0]D2 Legendary Abilities-Fortify Health MOJ.espD3 Grandmaster of Alchemy.espD4 Wrye Leveling.esp [Version 07]D5 Mayu's Animation Overhaul.esp++ Mart's Monster Mod - Resized Races.esp [Version 3.7b3p3]++ Slof's Oblivion Better Beasts.espD6 Toaster Says Share Faction Recruitment.espD7 CM Partners.espD8 CM Partners NPC.espD9 CM Partners More NPCs.espDA CM_Blackie_the_Fence.espDB Companion Postal Service.espDC CompanionshipRing.espDD Cobl Races.esp [Version 1.52]** Cobl Races TNR.esp [Version 1.53]** Cobl Races TNR SI.esp [Version 1.53]DE bgMagicEV.esp [Version 1.7EV]++ bgMagicSpellTomes_for_WryeBash.esp [Version 1.68EV]++ bgMagicItemSigil.esp [Version 1.68EV]++ bgMagicEVStartspells.esp [Version 1.68EV]DF bgMagicBonus.esp [Version 1.7EV]++ bgMagicEVAddEnVar.esp [Version 1.68EV]E0 bgMagicEVPaperChase.esp [Version 1.68EV]E1 SupremeMagicka.esp [Version 0.90]E2 SM_ShiveringIsles.esp [Version 0.86]++ SM_DLCSpellTome.esp [Version 0.80]++ SM_MMM.esp [Version 0.89]++ SM_COBL.espE3 SM_EnchantStaff.esp [Version 0.80]++ SM_Scrolls.esp [Version 0.84]++ SM_SigilStone.esp [Version 0.83]++ bgMagicEV_Conjuration_for_Supreme_Magicka.esp [Version 1.5]++ PMSneakySummonCompatibility.espE4 Appler's Passive Birthsigns.espE5 TRAP.espE6 No More Annoying Comments.espE7 MRP - Horse stabled outside gate.espE8 MRP - Loading area.espE9 NoMerchantBarterpvssyr.espEA Automatic Timescale.esp [Version 1.0]EB SPAWN.esp [Version 0.2]** bgMagicEVShader.esp [Version 1.7EV]EC bgMagicLightningbolt.esp++ Detect Life Shader [New].espED Get Wet - no droplets.espEE QTdof.esp++ Visually Realistic Lava.espEF qazFingerSnap.esp++ Faction Rank Fix.espF0 NRB4 Standard Road Record.esp++ Bashed Delayers E - MERGE ONLY.esp [Version 1.08]** All Natural - Indoor Weather Filter For Mods.esp [Version 0.9.9]F1 LandMagicPatch.espF2 Bashed Patch, 0.espF3 Oblivion Graphics Extender Support.esp [Version 0.2]F4 Streamline 3.1.esp