My way is to level alteration till I get 30% magic resistance, 30% magic absorb, and use the Lord stone for the last 25% for 85% magic resist.

for armor I use the full shrouded armor a light armor dragon priest mask ontop of my hood, light armor 100 and smithing at 60 so I can improve them with barely any light armor perks that are not needed to get to 567 armor rating besides the no weight and high stamina regen. How do you guys do it?

I don't worry about armor rating and just use the armor that visually/physically best suits my current RP.