Do you even get increased magicka in this game? I haven't looked but I thought they only got the racial power.
Overall, in most respects choosing a race is mostly cosmetic in Skyrim compared to previous TES games. None of the racial powers really wow me and considering my Orc had the same starting stats as my Dark Elf and Khajiit I seem to doubt that High Elves start with any more magicka than any other race.
They do. 50 points extra. and their racial ability allows them to regenerate magicka ridiculously fast. I play an altmer mage, and i love it. Though, if you want to play breton, or Orc, or Bosmer, or whatever, you won't really be at much of a disadvantage. choose a race you like. the rest will sort itself out.