I have a level 52 Khajiit. Initially I started with Archery + Sneak + Lockpicking. I was quite pleased with the results. Things were really tough at first, but gradually became easier and easier (but not as quickly as Fallout became easy). I still die frequently to dragons (since you can't get sneak bonuses against them) and occassionally get overwhelmed if I don't use the stealth approach I built for.
However, I saw on these forums that people found Smithing, Enchanting, and Alchemy to be horribly overpowered. I also saw people mentioning 9000 damage weapons and weapons that could 1-hit kill the final boss.
I'm not one to take advantage of exploits or abuse balance issues (I like a challenge), but I thought it would be fun to try making one of these super-weapons, just to one hit kill a dragon before tossing it into a lake, where I'd never get it back.
I'm now 100 Smithing (have every perk on the Light Armour side, plus Draogn and Arcane). I'm 50-something enchanting and have five perks in there. I think my alchemy is mid 70s, but I hate alchemy and don't intend to try it. I figured Smithing and Enchanting would be enough to one-hit dragons, based on the complaints I'd seen.
I've purchased many weapons, found many weapons, tried every Daedric Artifact...and can't get a weapon above 70 raw damage (and that 70 damage weapon is my old bow, that I had long before I raised Smithing to 100). My enchantments help, but they run out of charges really fast and are always inferior to the enchanted weapons I had to disenchant to get the enchantment in the first place.
Summary/TL;DR:
What am I doing wrong? How do you create a one-hit-kill-super-weapon? If I can't reproduce the balance issues without Alchemy, then I don't see Smithing or Enchanting being much of an issue on their own.

