I'm pretty sure you can go far above just an additional 70 HP through armor enchantment.
You get +72 HP on the chest piece (the only piece of gear that can be enchanted for HP) with +31% or+32% enchanting bonus potions, which are only obtainable
through a full gear set of +28% alchemy bonuses (4 x 28%). This is with 100 enchanting/100 alchemy and all the relevant perks.