Like Todd had said, the "spell making" in the game makes it feel less arcane and ancient. Being able to just chose everything about the spell takes out the mysteriousness and ancientness of being magic. IMO, I think this a good step for the game, although it may be letting down some of the hardcoe old TES fans.
Todd said that in his role as a salesman, doing what salesman have done since the days of rags, old iron and snake oil: try to turn a negative into a positive.
Customer:"This dress is musty, out of style, and it has ragged threads and a tear right wear the ass goes!"
Salesman: "No, no, good lady, its VINTAGE! It is old fashoined elegance. The frayed edges give it an air of authenticity, while the tear allows it to maintain that modern, sixy edge!"
As ever, Caveat Emptor. The only mystery that Spellmaking removed was the uncertainty that comes with not having a damn clue as to how effective your spell is or should be. Having spellmaking allowed a mage character to truly feel learned in the magical arts, like a genuine master who could weave intricate patterns of spells to yield masterful results.
It won't be impossible to live without, even for mage oriented characters. But its removal is not any kind of damned gift to anyone who ever had even the slightest use for it. . . except of course for those damned contrary clowns who love taking full advantage of every ability the system afforded them, and then boldly and ingraciously complaining about how it worked too well, and did too good a job of aiding them in doing exactly what they were trying to do.