After putting 130 or so hours into my 1st character I decided to start a new one, not because of lag. I just understood how the game worked better, plus light armor svcks so I wanted to start wit heavy armor. And melee executions are kinda cool, 130 hours in and I'm just now seeing them. Anyway I digress, as I've been using magic I've noticed I have no magic bar. And it would seem I have an inexhaustible supply of magic because I can cast without ever stopping.

It's [censored] awesome.

It was happening last night, it's happening today. I like this bug, can I keep it. I'll be nice to it, I promise... no stepping on it. The game also seems to have remembered my previous spells from the last save. Just gotta steal me some stuff, move it, and buy some.

Skyrim beware, dragons ain't got [censored] on me. And I'm just level 5.

Edit:
Although I definitely have unlimited magic, I'm still bound by what my mana pool is capable of casting. I just tried to cast muffle and failed, so I can't go buy high level spells and blast my way around Skyrim. But I cast magelight and while holding the cast my magic refills rapidly, so I'm absolutely positive I have unlimited rapidly refilling mana.