Balance issue to be worked out in beta. Heaven forbid restoration is useful for anything but a poor substitute for alchemy.
Next.
Yeah cause you get to decide what issue we discuss. Nice try.
Because it is so cheap you can manipulate the game into getting many perks you need to invest hours in normally. Fortify Armorer 100 for 1 second will give you an unbreakable hammer that you can use to repair all your gear to 125. A level 1 with a 25 restoration skill should not get that perk. Same with investing in a store at 75 mercantile, the huge drop in store prices for 100 Mercantile and Speechcraft (Arguably fixed in Skyrim, unless the store menus and speechcraft game (if there is one) are still frozen in time). Get 100 Acrobatics for 5 seconds and you can jump across any gap, even across lakes.
Both are game breaking in Oblivion in different ways. Chameleon lets you kill anyone or go anywhere while Fortify Skill lets you get whatever you want from NPCs without killing them. The worst part about it is that you can use Fortify Skill with 100% Chameleon and utterly crush every game mechanic.
As far as fixing Fortify Skill and Fortify Attribute it is easy. Just up the Base Cost to something higher than .6 If it was around say... 3-5 it would cost a lot more magicka to cast and high spells wouldn't be until later levels. One last thing to fix it is to cap how high it can go.
Side Note: Something that many people overlook is that even being able to make Fortify Skill spells was an oversight by the developers. It was never meant to be used besides some apparel effects or the odd Doomstone.