Reading through the G4 articles most likely all of you have read this but here it is anyway.

So perhaps spellmaking wasn't removed?

"We pick up a soul gem here, which can be used to power up spells or create new ones. We didn’t get to see how this actually plays out, so sorry magic lovers. You’ll have to wait a little bit longer to find out more about this particular feature. However, we did get to see a rather nifty spell called Front Rune, which lets you set explosive ice traps on the ground that are triggered when enemies pass over them."

Source: http://www.g4tv.com/games/xbox-360/64714/the-elder-scrolls-5-skyrim/articles/74303/the-elder-scrolls-5-skyrim-first-look-preview-part-3-dungeon-crawling-puzzle-solving-and-dragon-slaying/

Perhaps. But it's more likely that they didn't know what they were talking about, sadly.

On a different note, I was always more of a fan of Soul Tomatoes.