I was wondering the same thing, I've seen people talking about how it is out but I seem to have missed the article or whatever it was that revealed spellmaking was out. Anyway the thing I am really going to miss is creative spells that I don't think will be possible without custom spellmaking. For instance my pure mage type character in Oblivion has a bound sword/fortify blade/fortify strength/ shield/reflect damage spell that turns her into a pretty powerful warrior for a brief period. I don't think this will be possible in Skyrim, which makes me kind of sad, but I'm really optimistic for Skyrim regardless.
It isn't confirmed out I believe, but it was
not mentioned in the GI article where as enchantment and alchemy were.
Removing spellmaking is a horrible idea for one reason:
GI mentioned there are 85 spells to buy in the game. There are 5 schools. That's 17 spells per school. In the school of Destruction we have fire, cold, electric, poison, damage health, damage fatigue, damage magicka, drain magicka, drain fatigue, drain health, drain attribute, damage attribute, drain skill, disintigrate armor, disintigrate weapon, weakness to fire, weakness to frost, weakness to cold, weakness to magicka, weakness to disease and weakness to poison. That would be 21 different effects in the school of Destruction itself, and that would mean 1 spell for each? Dumb. Now let's say there was one ranged DoT spell, one ranged AoE spell, one touch DoT spell, and one touch spell for each of these. That's 4 spells for each effect, or 84 spells.
Now you have one spell for
each other school in the game... and I haven't even gone into the coolest spells in older TES games where you mix and match effects, especially things like "Fire Damage X over 30 seconds + Soul Trap 31 seconds.
I hope they meant 85 spell
effects but without spellmaking, well, we're talking something on the order of 85! spells that Bethesda would have to put in for me to feel satisfied with the state of magic.
So no, no spell making would be a
terrible "addition" to the game (rather state that removing spell making is a terrible thing to remove) simply because it would be going
away from the entire point of TES: you make your character do what you want to make your character do. And to rebut one of your points about spells looking unique: TES has never been about the spectacle (except maybe Oblibbions, but that's why it's generally disliked). TES doesn't need the shiniest graphics and the most unique combat effects ever to be a memorable and loved game: instead save that disc space for places where being unique actually matters: in the towns, the cities, and the people. I'd rather be able to cast 35 different fire spells that look exactly the same than 2 fire spells that look unique, and I'm sure I'm not alone.
EDIT: Option C is a svcker's option. Spells aren't "more unique" because you buy them from a vendor, nor are the spells necessarily "more unique" because spellmaking is taken out of the game. One great option for making certain spells "unique" would be to make their effects greater (like much greater) and more mana efficient, reflecting that the spell has been around for a while and been perfected over time (so you are paying someone to "teach" you the spell), but the spells you make at the moment are often more powerful, though they are much less efficient than they could be mana wise (reflecting that the spell is "brand new" and hasn't had the kinks worked out yet). Voila, spells from vendors are "unique" without getting rid of spellmaking!