First let me get this out of the way: I prefer morrowind's enchantment system to Oblivion's, but am aware of problems (Enchant any weapon with 1 second of paralyze to see what i mean). At the same time, I felt both were lacking for one reason: Theres no way to change enchant amounts. What you have is what you have is what you have. Im a big proponent of the idea that you should be able to make any enchantments you find in the wild. I think that Skyrim's enchanting system should finally allow us to add *Negative* stats to our equipment, which will allows us to put more good enchants on. I think something like a 2-1 ration would work. For every 2 points of Damage Strength Constant, you could do 1 point of Fortify Strength Constant. Or something along those lines.

I wanna enchant arrows. Since arrows only have one use, you should be able to enchant as many arrows in a set as you can with the strength of an enchantment in one go. Did that even have anything to do with what you're talking about? Oh well...