As long as the spells are no longer all the same glowing glob of boring as they were in Oblivion they can't be worse. I want the spells to feel different as I am using them and not just different values taken from a spreadsheet and applied to another glowing ball.
I completely agree. it adds to the RP value of spell casting when the visual manifestation of each spell effect is not identical to the others.
I think the reason the devs have not mentioned spellmaking so far is because they have been playing around with it but perhaps so far haven't found the precise means of balancing this feature.
In Oblivion it was very easy to make a spell of 2-sec paralysis, combining spell effects to reduce the magicka and gold cost, and some insanely powerful combo spells
For example, you could create a spell effect with 1,089x damage multiplier that results in over 100,000 damage:
Spell A: weakness to magic 100% for 5 sec
Spell B: weakness to magic 100% for 5 sec + weakness to Fire, Frost, Shock or Nature 100% for 5sec
Spell C: Fire, Frost, Shock or Nature dmg 10pts for 10sec on touch (or higher)
Then cast Spell A, Spell B, Spell A, Spell B, Spell A, Spell B, Spell C - the result is something like 108,000 damage from Spell C due to the Weakness to Magic stacking on itself
(cumulative Weakness to Magic Effect 3200%, cumulative Weakness to Fire,Frost or Shock effect 3200%, total damage multiplier 1089x base damage)
Magic was by far the most OP specialization in vanilla Oblivion and even in a heavily modded version with FCOM and Duke Patricks, etc., at the highest difficulty settings it is still more powerful than non-magic builds.
The OP aspect was due in large part to custom spells like these. Not that they aren't fun to cast, but they are clearly overpowered.
/I am worried however, that all the spell acquisition process might have been replaced by making all the spells into perks. 12-20 different perks for each of the Alteration, Restoration, Conjuration, Destruction, Illusion skills - a total of 85 spell effects could be derived from these perks. I very much hope that is not the case.