Try Morrowind's spell making system. It isn't as limited by leveling, nor does it have the caps on its effects like Oblivion's does.
In addition, you say "hog tying generic effects together". And Skyrim's will be different how? Unless they practically removed half of the spells and introduced more unique spells (God help me if they did. Shoe meet horn), then it will just be the same thing, just without nearly as many combinations as we could make in Morrowind or Oblivion. Like I mentioned in my previous post, a fire spell is a fire spell is a fire spell. The only difference is that it looks a different way, but the effect is still the same. You burn stuff. At least with a spell making system I could burn, burden, and drain them at the same time.
Hmmm I've tried Morrowinds one, I wish people would stop talking down to other users as much about which games they have or have not played.
It is serverly limited by magicka though, and spell chances, it requires serious fudging of the spell system to maximise.
Some fiddling with touch spells, alot of fortify work arounds, potion glitching and tunning spells into something that actually gives you something to work with.
A fire spell is a fire spell, however in skyrim it's already stated that a fire spell is the most damaging of the elenental spells.
It can be used as a flame thrower, a large powered AoE fireball or a small direct to target one.
It's use is against fighters and large hitters.
Electricity is to drain magicka, so will have a bonus as standard, and is aimed at mages and magicka users.
We may ( speculation ) see chained effects, bolts or touch effects, ( again speculation. )
Frost drains fatigue and slows down foes, use this against anyone that's fast or relies on damage, against an archer or two hander it'll limit the damage taken.
If following past TeS games were the lower the fatigue the less likely to hit, or deal full damage.
85 spells, I don't know how many are unique.
25 may just be different summons, 60 could be a mix of the same effects changed only in a small way ( if so I'll agree 100% with your opinion. )
Or we could have 50+ spells each completely original, with various ways to power them up.
Combine this with the perk system, I see it as vastly giving more options than the previous games.
I don't know if I'll like it, but I currently like that effort is going into how the magic system could be improved.