Though this isn't my own work, I wanted to make a thread to talk about http://skyrim.nexusmods.com/mods/13166 , because I feel it's amazing at what it tries to do and clearly not as known as it could be, perhaps because it arrived a few months later than the early magic rebalance attempts.

The magic system in Skyrim has seen much virtual ink spilled in the last year, and there have been various attempts to improve it. I've personally played with mods such as Better Magic, Balanced Magic, Improved Destruction, and a few others. (This is a category of magic mods that aims primarily at improving the vanilla magic system rather than those, like say, Midas Magic, who's primary aim is to add more spells in parrallel)

Mighty Magic certainly improves the scalability and balance of the core system, while also adding a certain amount of new spell effects that blend in fairly well with the vanilla ones. Most of the new effects seem to duplicate functions of spells that were present in either Morrowind, Oblivion, or Mighty Magick Oblivion; TES fans shouldn't be surprised by any of the new spells per se. Since the mod is modular, its also possible to cherry pick the aspects you're most interested in.

Personally, I've helped test the mod these last couple weeks and it's clearly what I'll be using for my next playthrough. So, for people who want a mod similar to Mighty Magic Oblivion or Supreme Magicka Oblivion (which was in many ways similar), that improves scalability without destroying balance, and restores many spell effects that are missing from Skyrim without adding things that dont fit in at all, I recommend taking a look.

My favorite too, been using it since someone linked in a thread long ago. And it's just been updated? Excellent. Only thing missing from it is unlock spells Or atleast that was the case in the 2.5 version that i've been using.

Indeed, I also asked for that but the author's been having troubles adding unlock, feels other mods do that particular spell better than hes been able to. So personally I just added another mod for unlock. I can suggest a couple if you're still looking.

3.0 will receive a patch because we've been reporting a few minor issues, but its a really solid release overall. Good documentation too.

Sure, that would be nice Only one i've used was the ones in Midas Magick, but i've since stopped using it.

http://skyrim.nexusmods.com/mods/14457 this is the most downloaded one, and its the most balanced in the sense you must acquire higher level spell tomes to open better locks. The amount of extra spells it added bugged me a bit because I like spells that scale with my skill rather than a cluttered spellbook, but then I found http://skyrim.nexusmods.com/mods/18096 which lets you get rid of spells you've outgrown easily, so I dont mind as much.

http://skyrim.nexusmods.com/mods/11293 is much more potent and requires a single spell, which you can buy from the court mage in Winterun. This one doesnt allow you to lock doors, but its open lock component scales with your skills. It may be a bit too good as it takes the highest of multiple of your skills to determine what you can open or not, making it the most potent way of getting past the locks. Which you prefer will depend on tastes and how much you use Alteration, I suppose. I also like that Unlock is a projectile instead of a menu option.