Well with being able to go to jail and re raise your skills that were lowered there really never was a level cap. But I would like to see getting higher then 50 before I have to start demolishing guards and my skills.
Don't work this way in Skyrim. In Oblivion and Morrowind you levelled up than you had raised 10 selected skills. Then all the selected skills was 100 you could not level up anymore, reducing the skills by going to jail let you continue raising skills and level up.
In Skyrim you level up by raising all skills, however it's not 10 skills anymore, by raising skills you get some sort of score, call it skill points, raising a high skill gives you far more points than raising a low. then you have reached level 50 you can still level up but it goes far slower. perhaps reaching level 51 is as much work as going 45 to 50 or even 40 to 50, past level 50 you don't get more perks but you can get health, stamina or magic bonus.