Thanks, this thread is a godsend.

I'm really annoyed at how Magic was implemented in Oblivion. Tried both LAME and Supreme Magicka, am sticking with Supreme Magicka as I like it more. However, I now want a mod that provides a new formula to calculate how much Magicka I have. Maybe have it based on level as well as my skill in each of the magic schools, but right now I'm running around as an Imperial Paladin (Combat spec) and I have 110 Magicka, so I cast two buffs and I'm out. Seems retarded...
I found one that recalculated, but it went the other way: it gave me 2k Magicka, and that felt like cheating. I want something that is more sensible, so I can cast six or seven spells as a warrior-who-dabbles-in-magic before running out of Magicka.
EDIT: Almost forgot! I'm also not liking so much the way Recharging items are handled in the game. Is there a mod that provides a new way to charge items, perhaps by buying pre-filled soul gems from a merchant to carry with you? Obviously it would have to be pretty expensive, but it's that or going back to town every 15 minutes to pay for a recharge. I found a mod that let's you buy a spell that recharges your weapons, but it's a one time fee and so I'd feel like I was getting off TOO easy... and then there's one that auto recharges at midnight... one that gives you an unlimited Varla stone... I want to have to pay for these things so I'm not insanely OP with these charged weapons, but Soul Gems are a pita, so I really want to get around that.
Better yet, is there a way to make it so enchanted weapons have no recharge, BUT their powers are diminished? Ie. instead of 20 frost dmg /hit and 75 charges, 2 frost dmg /hit and no charges.