As I've mentioned, perks and enchanted gear don't stack. Tried that before on Conjuration, so maybe it is different for Alteration? Btw, I don't have a problem with getting enchantment to 100 and craft 100% free magicka gear. I've already played through 3 characters with maxed enchantment/alchemy/smithing and I'm looking to do it from another view point of strictly adhering to one archtype of skills and limiting the boundaries.
edit: just saw the replies. You can get all 5 schools free with 100 enchant - just craft 3 sets of gear, either change them 1 by 1 via the items menu or just hotkey them.
Ah, so 100 skill in any school reduces magicka cost. That makes much more sense now, and I'll check out the master's robes.
The perks and enchanting not stacking is very very weird to me. I'm going to have to double-check that, cuz that
has to be a bug. The cost reduction per skill point is certain though... although the final reduction is 40%, not 1/3. My bad there.
http://www.uesp.net/wiki/Skyrim:Magic_Overview#Spell_Cost
I don't use multiple gear-sets, which is why my thinking may appear a bit limited. It's one thing to pause to select a different spell, but changing clothes in the middle of a fight seems weird.. unless it's just swapping gloves or something.