In the newest patch, with the overall level cap removed does that mean that spells like Banish, Fear, or Calm will get to a point where they're useless? I know there are perks and the like that increase the levels of the creatures/NPC's they affect, but even with those isn't it possible to level to a point where they will have no effect whatsoever?

The enemies still have a level cap, I believe.

This. I'm sure you won't have a level 100 Bandit Chief. Maybe they should...

Anyways, for us who Oghma Infinium'd our way to level 81, we'll finally be able to have Mjoll as a follower and do the second part of the Wolf Quenn quest.

Gonna miss the OI cheat, when I had my 360 a few months ago, I used the wooden plate - OI combo to reach 81 in a little under 3hrs. http://imgur.com/IMgEY

On a subsequent playthrough, I was able to fine-tune my methods and got it down to 2hrs 17min.