No, you didn't, but I was just illustrating why one might be able to cast lesser ward, yet not be able to conjure something like a bound bow... My current character HAS Bound Bow, is at level 26 and still can't cast it because she has only 120 magicka. She casts Muffle, Healing, and sometimes summons a draugr that takes I think 89 magicka to summon. she also has invisibility, but it takes about 270 magicka to cast that as well, so she won't be using it any time soon.
Here's the thing about Bound weapons though.. they only last until you sheathe them, right? So lets say you use all of your magicka to get a Bound bow, and twenty seconds later you've been hit for a massive amount of damage. You have a choice. You can try to cast healing, except that you probably still only have a small amount of magicka unless you're a mage (and if you ARE a mage, you probably can't use even Bound weapons all that well, can you?). and if you do your Bound Bow goes away. or you can open your inventory to get a healing potion if you happen to have any, but you can't cast spells offensive, or defensive and keep the bow too.
On top of that, if you use horses, you can't use a bound weapon while mounted. In fact, it's a pain for mages because they can't use bound weapons while mounted, or cast spells, or use a staff, so unless you carry normal weapons you're defenseless. Of course you can't cast a ward while mounted either, but no matter how you look at it, bound weapons are like teats on a boar when you're mounted. Since you have to carry normal weapons anyway if you play mounted, why bother with Bound weapons?