So today I noticed I have 600 armor rating yet I decided early on in the game to go for as much defense as possible so I also went for Alteration magic. "No sweat, I still have use for Alteration magic, I'll just go grab a shield spell that I can throw on my atronachs so that I can have a good reason for leveling this skill as I play while still playing according to my desired playstyle."
So I went on a search for a shield spell that could be cast "on target", sadly there was not a single such spell in the entire game, so I decided to count up the spells in Oblivion and the spells in Skyrim to see what other spells I might be lacking, these are the results.
I first counted up the spells in Skyrim, a grand total of 91 if I ignored spells that had the same level and effect but simply a different radius but there were only two spells I had to remove from the list by doing that both of which were undead repel spells and I ignored "Fade Other" which is listed on the UESP as a spell that didn't make it into the game.
Here is the Skyrim list.
-Alteration: 15 total different spells
Light = Novice*on-self+Apprentice*on-target = 2 total
Detect Dead = Expert*on-self = 1 total
Detect Life = Adept*on-self = 1 total
Shield = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Equilibrium = Novice*on-self = 1 total
Paralyze = Expert*on-target+Master*on-target = 2 total
Telekinesis = Adept*on-target = 1 total
Transmute = Adept*on-self = 1 total
Waterbreathing = Adept*on-self = 1 total
-Conjuration: 22 total different spells
Banish Daedra = Adept+Expert*on-target = 2 total
Bound Battleaxe = Apprentice*on-self = 1 total
Bound Bow = Adept*on-self = 1 total
Bound Sword = Novice*on-self = 1 total (Note: this was two handed in Oblivion but not one handed like in Skyrim, that why it gets the yellow new spell mark)
Command Daedra = Expert*on-target = 1 total
Conjure Dragon Priest = Expert*on-self = 1 total
Conjure Dremora Lord = Expert*on-self = 1 total
Conjure Familiar = Novice*on-self = 1 total
Conjure Flame Atronach = Apprentice+Master*on-self = 2 total
Conjure Frost Atronach = Adept+Master*on-self = 2 total
Conure Storm Atronach = Expert+Master*on-self = 2 total
Raise Zombie = Novice+Apprentice+Adept+Expert*on-self = 4 total
Dead Thrall = Master*on-self = 1 total (new but only to an extent, no yellow mark)
Flaming Familiar = Apprentice*on-self = 1 total
Soul Trap = Apprentice*on-target = 1 total
-Destruction: 24 total different spells (no yellow marks, touch spells and the area of spells are not specified in the Oblivion list, else I'd have to increase that list by a lot if I started marking yellow here based on the area of the spells)
Flames = Novice+Expert*streaming = 2 total
Firebolt = Apprentice+Adept+Expert*on-target = 3 total
Fire Rune = Apprentice*on-terrain = 1 total
Flame Cloak = Adept+Master*on-self = 2 total
Frostbite = Novice+Expert*streaming = 2 total
Ice Spike = Apprentice+Adept+Expert*on-target = 3 total
Frost Rune = Apprentice*on-terrain = 1 total
Frost Cloak = Adept+Master*on-self = 2 total
Sparks = Novice+Expert*streaming = 2 total
Lighting Bolt = Apprentice+Adept+Expert*on-target = 3 total
Lighting Runes = Apprentice*on-terrain = 1 total
Lightning Cloak = Adept+Master*on-self = 2 total
-Illusion: 15 total different spells
Call to Arms = Master*on-self = 1 total (not really a new effect, simply two existing effects combined into one such as was possible in Oblivion, no yellow mark)
Calm = Apprentice+Expert+Master*on-target= 3 total
Clairvoyance = Novice*on-self = 1 total
Courage = Novice+Adept*on-target = 2 total
Fear = Apprentice+Expert+Master*on-target = 3 total
Fury = Novice+Adept+Master*on-target = 3 total
Invisibility = Expert*on-self = 1 total
Muffle = Apprentice*on-self = 1 total
-Restoration: 15 total different spells (many spells here are just two effects in one, those don't get a yellow mark)
Healing = Novice*on-self = 1 total
Ward = Novice+Apprentice+Adept*streaming = 3 total
Fast Healing = Apprentice+Adept*on-self = 2 total
Healing Hands = Apprentice*on-target = 1 total
Turn/Repel Undead = Apprentice+Adept+Expert*on-target = 3 total
Heal Other = Adept*on-target = 1 total
Circle of Protection = Expert*on-self = 1 total
Grand Healing = Expert*on-self = 1 total
Bane of the Undead = Master*on-target = 1 total
Guardian Circle = Master*on-self = 1 total
As you can see I grouped them together by the level of difficulty the spells take as it would be desired to have each spells in every difficulty, I myself am finding the "Healing" spell running useless for me so I no longer have a streaming healing spell to resort to and only spam Fast Healing for my healing needs these days. I did the same for the Oblivion list and in both lists I ignore radius as in Oblivion a spell could have 1 radius, then 2, then 3... etc essentially bloating the list beyond what it should be, which quite frankly would be unfair for Skyrim.
Here is the Oblivion list.
-Alteration: 130 total different spells
Burden = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Feather = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Shield = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Fire Shield = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total (for the sake of fairness these shield spells were just shield + spell resistance in one, so no green mark)
Frost Shield = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Shock Shield = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Open = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch = 10 total
Waterbreathing = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Water Walking = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
-Conjuration: 165 total different spells
Bound Axe = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Bound Boots = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Bound Bow = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Bound Cuirass = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Bound Dagger = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Bound Gauntlets = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Bound Greaves = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Bound Helmet = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Bound Mace = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Bound Shield = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Bound Sword = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total (Note: This was 2 handed in Oblivion, that's why it's marked green despite there being a "Bound Sword" spell in Skyrim)
Summon Clannfear = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Daedroth = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Dremora = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Dremora Lord = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Faded Wraith = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Flame Atronach = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Frost Atronach = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Storm Atronach = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Ghost = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Gloom Wraith = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Headless Zombie = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Lich = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Scamp = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Skeleton = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Skeleton Champion = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Skeleton Guardian = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Skeleton Hero = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Spider Daedra = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Xivilai = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Summon Zombie = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Turn Undead = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch = 10 total
-Destruction: 750 total different spells if applied to Oblivion, 390 total different spells if applied to Skyrim
Damage Fatigue = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Damage Health = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Damage Magicka = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Drain Fatigue = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Drain Health = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Fire Damage = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Frost Damage = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Shock Damage = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Weakness to Disease = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Weakness to Fire = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Weakness to Frost = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Weakness to Shock = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Weakness to Magic = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Weakness to Poison = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total
Drain Skill = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*21 or 18 depending on if the skills in Oblivion or Skyrim are used = 180 or 210 total
Drain Attribute = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self*10 = 150 total (ignored for Skyrim)
Damage Attribute = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self*10 = 150 total (ignored for Skyrim)
Disintigrate Armor = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total (ignored for Skyrim)
Disintigrate Weapon = Novice+Apprentice+Adept+Expert+Master*on-self*on-target*on-touch = 15 total (ignored for Skyrim)
-Illusion: 150 total different spells
Calm = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch = 10 total
Chameleon = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Charm = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch = 10 total
Command Creature = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch = 10 total
Command Humanoid = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch = 10 total
Demoralize = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch = 10 total
Frenzy = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch = 10 total
Invisibility = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Light = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Night-Eye = Novice+Apprentice+Adept+Expert+Master*on-self = 5 total
Paralyze = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Rally = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch = 10 total
Silence = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
-Restoration: 1029 different spells if applied to Oblivion, 739 total different spells if applied to Skyrim
Absorb Fatigue = Novice+Apprentice+Adept+Expert+Master*on-touch = 5 total
Absorb Health = Novice+Apprentice+Adept+Expert+Master*on-touch = 5 total
Cure Disease = Journeyman*on-target*on-touch*on-self = 3 total
Cure Paralysis = Apprentice*on-target*on-touch*on-self = 3 total
Cure Poison = Apprentice*on-target*on-touch*on-self = 3 total
Fortify Fatigue = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Fortify Health = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Fortify Magicka = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Restore Fatigue = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Restore Health = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Resist Disease = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Resist Fire = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Resist Frost = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Resist Shock = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Resist Magic = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Resist Paralysis = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Resist Poison = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Absorb Skill = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self*21 for Oblivion or 18 for Skyrim = 315 for Oblivion or 270 for Skyrim
Fortify Skill = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self*21 for Oblivion or 18 for Skyrim = 315 for Oblivion or 270 for Skyrim
Absorb Attribute = Novice+Apprentice+Adept+Expert+Master*on-touch*10 = 50 total (ignored for Skyrim)
Fortify Attribute = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self*10 = 150 total (ignored for Skyrim)
Mysicism: 75 total different spells
Detect Life = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Dispel = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Reflect Spell = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Soul Trap = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch = 10 total
Spell Absorption = Novice+Apprentice+Adept+Expert+Master*on-target*on-touch*on-self = 15 total
Telekeniesis = Novice+Apprentice+Adept+Expert+Master*on-target = 5 total
A lot of these spells may seem silly but I decided to include every single spell because in some cases a spell that would seem to be only bad for you can help you with a quest, taking for example the Daedric Prince quest for Namira in Oblivion where you are required to have 20 or less personality, at which as "Damage Personality on self" comes in handy. Also many spells can be useful for roleplaying purposes ignoring their usefulness in combat or in questing.
Now there are a lot of new spells in Skyrim but they fall short when they get outdated or you are unable to get lesser versions of them yet are not skilled enough to cast the real version (I'm sure I'm not the only one who in Morrowind or Oblivion used to buy summon spells above his levels and then created versions that lasted shorter than the default version allowing you to cast something like a Golden Saint without being a master at Conjuration (even if it only lasted 12 seconds or so

The reason I left "on touch" in my counting of the Oblivion spell despite it not being in Skyrim is because Skyrim offers new ways to cast spells that could easily replace it such as the spells that target terrain and those spells such as Flames that cause a magical effect in a cone in front of the caster which could just as well be counted as touch in my opinion. And even then if I am being unfair you could take away 3/4th of the spells I listed in the Oblivion list and you'd still be left with more than double the spells of Skyrim, and that's only the potential spells of Skyrim.
It wouldn't be hard to push the spell count of Skyrim up with even the most mundane of spells in my opinion without there being a need for bringing spell making back into the game (even if it would be nice), it's already 5 spells extra to the Skyrim spell repertory if a Novice, Apprentice, Adept, Expert and Master version was made of the Shield spell that could be cast on other targets and that's just one example of many. So what do you guys think ? Are there any minor spells you never imagined wouldn't be in the game, that you would like to see in Skyrim and do you think that Bethesda didn't really realize just how many spells were being left out by removing spellmaking without making sure every popular area of spells was covered ?
Edit: Some numbers updated and I updated the thread by highlighting some of the spells with these color codes. Green = spell we could have had but didn't have (then I mean spells, not shouts, potions or racial abilities), Red = spells we couldn't have have because of the differences between Skyrim and Oblivion, Yellow = spells we got in Skyrim that were not in Oblivion.