Something like this will probably be made eventually, but what I really want to see is something that adds a ton of new items, and so that you always feel like you might find something you never seen before. There would be tons of new bonuses for random loot, as well as many, many more handcrafted artifacts. If possible, you could also find blacksmithing recipes for artifacts that require lots of rare ingredients. More challenging would be also including a variety of new spells that can only be found while adventuring, much like the Transmute spell. Some examples:

Item bonuses:
x Sneak Attack Multiplier (already exists to a degree)
+ Attack Speed
+ Movement Speed
+ AoE Spell Radius
- Power Attack Stamina Cost
+ Arrow/Spell Velocity
+ Poison Duration
+ Poison Applications
x Poison Effectiveness
+ Block Thorns Damage
+ Slow Down Enemy Movement/Attack Speed on Hit
+ Water Walking


Special Artifact Bonuses:
3 Seconds of Invisibility and Muffle on Kill
Does 50% weapon damage to targets in melee range
Enraged enemies get a damage buff
Arrows penetrate targets
Emits light when wielded/near enemy
Conjured allies have Flame/Frost/Storm cloak
Creates minor Guardian Circle when blocking
Ward spells reflect projectiles
Vaporizes enemies
Infinite Arrows
Projectile spells home in.
Frost Cloak when blocking
Runes spells can be triggered 3 times

New Spells:
Ray spells that do a steady steam of damage at long range with instant travel and high mana cost
Acid bolts/sprays that do damage over time and reduce armor
Silent trap-setting spells that put patches of ice that may slip opponents or oil slicks that can be set on fire.
Magic missile!
Wide array of summons with a unique ability or two just for variety
Summon-able floating bag that effectively increase max carry weight
Rare spell that teleports you home, or maybe makes a two-way portal to some unique house that can only be accessed that way.
Unlocking spells
Quicksand spell that slows enemies
Spells that turn clutter items into potions or something else useful
Restoration spell that heals allies and damages undead.
Spell that create an impassible barrier with a set amount of health
Plague spells that spread from one target to another
Detect magic spell that makes magic loot, and NPCs/containers with magic loot glow.
Spell that makes all lootable items glow



Not really expecting anybody to see this and make it or anything, just starting a discussion to see if anyone wants to see this sort of mod, or is perhaps making one and might add few things.