Restoration has that shield spell that increases armor rating, absorbs magicka AND resists tons of magic damage. Huge plus there imo. Resist magic damage is a hard-ish effect to get relative to its importance in game.
Also, group heals for mages that might have 2 revived permanent companions as well as other companions is a pretty powerful effect.
All the schools seem extremely powerful, although I agree they are lacking a bit in diversity of effects considering no custom spells. That will change fast with mods for PC users and probably also for console users when the DLC/expansions come.