Furthermore, they shouldn't even have a timer. Can't begin to even tell you how many times in a frantic battle I've panicked and ran (or died) because my bound sword timed out...and the casting animation is waaaaay too long. -.-
The timer is no longer than any other spell.
Still, I can't believe they left out the rest of the weapons...OR the armor. Yes you now have the "flesh and skin" spells, but It's not the same. One of the most fun things in Oblivion, was creating your own spells and the sheer variety of them and combinations. Sadly that is not the case in Skyrim.