All master spells haveing there magicka cost cut in half.

Destruction: All destruction spells gettting 1% more damage per point in the skill, reach 100% more damage at 100 destruction skill.

Restoration: All healing restoration spells healing 1% more per restoration skill level.

Conjuration: All Bond weapons getting stronger per skill level, maxing out at daedric weapon damage at 100 conjuration and maxing at Legendary daedric with the mystic binding perk.
All summon creatures getting stronger per conjuration skill level, maxing out at 2x stronger summonings at 100 conjuration.

Alteration: Oak/Iron/stone/ebonyflesh giveing more armor rateing with hgiher alteration.

Illusion: No change.

Nice, and I bet we'll see all of this in a mod soon enough