I wouldnt mind encumberance being a factor on levitation.
I dont know why people are always going on about levitation being overpowered, it really wasnt.
On morrowind it wasnt a cheap spell and it wasnt that easy to cast, lvl 50 for reliably casting the store spell, I believe, wich made you float very slow too.
You had to be a serious mage to be able to use it more than three times in a row.
Yes, if you designed your whole character to take advantage of levitation, or if you forked over enough money and chose to make a custom enchantment, you could.
But why go through all the trouble of tweaking your gameplay just to take advantage of levitation, and then complain its overpowered?
My warriors almost never used levitation. it was a 45 pt. spell and I only had 100 total. My warriors also would not make an enchant or use anything other than mazte or a potion of fools luck.
My mages were another story.
But, yes, encumberance a factor on levitation. Ok, if I can simultaniously cast feather to reduce my encumberance, fine.
If its anything as expensive as Morrowind, I would need close to 100 spell points for a 30 sec. levitation + 30 sec high feather. And an alteration level of about 60 should be good, I guess.
Handy for mage types, not really useful for anyone else, so hardly exploitable.
But your forgetting that magicka and combat were improved to where magicka can now regenerate and you can't fail a spell cast. Even when it could fail, the spell just by itself was broken. With the new systems, it could be reimplemented as just allowing you to levitate only yourself and constantly drain your magicka, fairly rapidly too.