Yeah, I made a "junior" version of the spell, which fortifies Acrobatics by 500 points for three seconds. It's just long enough to get up in the air, but you don't go nearly as high or far. You can jump over mountains, though.
Seems as you get really far in the game, it becomes important to be able to get around FAST. Guess that's why they have fast travel in Oblivion.
Since you have fortify skill, you can chain together spells or enchanted items to duplicate the full magnitude of the scroll.
Outside of this, the best way to zip around is a weak levitate and a powerful fortify speed, easily-obtained through potion abuse. Kagouti hide, moonsugar, and shalk resin fortify speed, but I couldn't tell you what vendors restock them.