Why does it really have to have sailed though ? The main argument Bethesda seemed to be using against spell making was that once you got spells up in a spreadsheet they started to lose their magic... but exactly what hinders players who agree with that sentiment from simply not using spell making ? I would personally like to see both more tomes with spells and spell making returning.
I really don't feel like I can try to explain my cause in just a few lines though so here are a couple of short threads you can breeze through for a more in-depth look at the arguments for spell making and the general state of spells in the game without spell making.
A thread on the state of spells in Skyrim compared to the last installment in the TES series.
http://www.gamesas.com/index.php?/topic/1302338-a-small-observation-on-the-amount-of-spells-in-the-game/
A thread on spell making in Skyrim.
http://www.gamesas.com/index.php?/topic/1303444-excusion-of-spell-making-a-bad-developing-decision-and-why/
I've been playing since Morrowind, I know what spells used to be like.
I just can't see how it would work with the system in Skyrim. But don't get me wrong, I'd love to have it back. I tried playing a mage and it's not much fun the way it is now. I used to love to combine spells with each other, for example a 1 second paralyse (so they'd fall down) with a 3 second fire spell, or an invisibility spell with a heal for when things badly went wrong.
There are just so few spell effects now... while I love Skyrim and will play it for years, it probably won't be as a mage.
But I hope you are right, that we get a meaty DLC where spellmaking gets included, we get more spells and effects and better scaling of the spells that are already in game. I'd happily pay for that because playing through with a proper mage character would be another 100 hours or so I'd get out of the game.