Eh.. Do tell..? *heh heh* I am not familiar with this effect. Must hunt..
It's only available via the spellmaker, but Create Item is a wonderful effect. You can create various items such as armor, weapons, shields, clothing, and arrows. The weapon are always the lowest type within each category (for instance, the blunt weapon is always a mace, not a warhammer). The cool thing about the spell is that you can summon items of higher materials--I have summoned a daedric cuirass--but I don't really know what determines the quality; you often get leather or iron, the higher materials are truly rare. it's all up to your luck, level, maybe willpower, who knows.
Here's the kicker: The items are permanent. The spell has a duration, yes, but it only determines how long you have to wait before you summon another item. So make the duration as low as possible, and you can make things more often. I would assume that wasn't intended to work like that, but that's how it is! So yea, with that spell you will never run out of arrows, and you'll never be without a backup weapon (it just may be crap). Just conjure as needed.