Skip to 3:16 http://www.youtube.com/watch?v=g0333PMKNiQ This is good magic compared to Oblivion
You see how a spell can be more than just 1 effect
And i just want to point out, throwing daggers is cool: Skip to 1:20
Impaling enemies with sword skip to 2:55
Disarming Enemie skip to 2:47
and there is much more to it thanks to the dynamic physic environment. This level of detail is hard to achive in a big open world like skyrim