Has anyone been able to really train up the enchanting skill?

I greatly appreciate the new feel to the economy, but I've noticed that with less "loot" and vendor trash just floating around everywhere, and the cost of enchanted pieces so high, that I actually can't find a whole lot to disenchant (granted, I only need 1 piece per effect). I also found that enchanting items at low levels does squat diddily -- I dischant a very common item with a 50% buff for something and the result when I enchant something else is a 1% buff. (I should hope that this will change DRASTICALLY with skill level, otherwise, the limit to only having 1 effect on an item is going to make this skill absolute garbage.) Other than the high cost and rarity of trinketry (I CAN enchant trinkets at a higher level, right? Cuz right now it looks like I'm limited to armor only), the soul gems themselves are quite expensive.

However, I can immediately jump into alchemy or smithing, and materials are not hard to come by and are far, far less costly to get into -- these two skills are immediately useful, as well.

Am I just missing something?

I disenchant everything I do not have in my enchantment arsenal, and if that means having to lose some gold so be it. Here is an example of a good investment:

I bought a bow that banishes Daedra for around 4k. Now I just made several weapons with that enchantment, and each was about 1k to 2k, and those were steel and iron weapons, which I can easily forge up. Do the math, and both the amount of skill and gold gained will make your mouth drool

Edit: Also, the souls were petty size. Not bad for such a price.