Got a feeling that the strength of bound weapons will rely heavily on the conjuration skill itself... did it work like that in Oblivion? I never really used them.
No the equipment provided a flat armour rating and no enchantments - higher conjuration simply reduced the mana cost. Their only real practical value is they were completely weightless, so a conjuration expert didn't really have to carry much with him, when combat began he could just summon a full set of fairly powerful armour and weapons.
But the said weapons really didn't hold a candle to a set of genuine daedric armour, upgraded by an armourer and enchanted with foul magicka from the depths of oblivion... or something like that.