» Wed May 16, 2012 11:49 am
Resist - Reduces shock, frost, fire, magicka, the damage afflicted by a normal weapon or reduces the chance of being poisoned, paralyzed, or diseased.
Resist Magic always works, and reduces the effectiveness of the incoming spell by a certain percentage.
From - http://elderscrolls.wikia.com/wiki/Spells
and - http://www.uesp.net/wiki/Oblivion:Magical_Effects#Reflect_vs._Absorb_vs._Resist
Spell Absorption is an M% chance to convert all of the energy from a magical effect into your Magicka points and avoid its potentially damaging effect. For example, if you had 50% Spell Absorption, half of all spells (on average) cast at you would simply refill your Magicka, depending on the strength of the spell, instead of otherwise affecting you.
Absorb attempts to convert incoming magic into magicka for the target: its magnitude is the percentage chance that it will succeed. If it does, all of the incoming effect is negated, and the target with Absorb on it receives magicka proportional to the magnitude of the incoming spell
From - http://www.uesp.net/wiki/Oblivion:Spell_Absorption
Restance to poison, paralyze and disease causes a "chance" scenario, but any other spell / damage causes a percentage to be taken off of the damage.
E.g 5 frost resist on a frost touch spell that does 100 damage = 95 damage.
I'm not entirely sure how it is calculated, but it is not 0 or 100 damage it takes a percent off of the original damage.