Will it be as expensive as it was in Morrowind? As difficult (in terms of INT/Skill) to make a high level item? Can anything (not already) be enchanted?

Also - what would you make?

I can't answer your questions but I have another one. A few, even.

Will enchanting be better when you do it on your own or is it just cheaper? Is there a perk tree somewhere?
Will soul trapping require much magic skills or can I do it with my Orc smith without leveling my magic skills too much?
Will it even work like before, soul trap + soul gem? Will soul gems be hard to come by?