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By having both Enchanting and Alchemy at Master level and abusing the Enhance Enchanting potions / Enhance Alchemy enchantments is it possible to put a single 100% cost reduction on a single item? Or is 25% the cap for that sort of enchantment?

There's a cap at 25% I believe although with the dual enchantments perk I believe a few people have gotten 100% cost reduction. I wouldn't do it personally, it seems rather game-breaking (much like 100% chameleon)

I believe the highest % one guy managed to get was 38% on a single item

tho with 2 items providing 25% each, you can easily reach 100% (since perks give 50%) on 2 different skills

From what Im reading on the forums its becoming disgustingly common for mages to abuse this

So it stacks with the perks?

I honestly don't like the idea of no magicka costs, it's just cheating.

Although some low magicka spells seems nice;

Clairvoyance for instance
Lock spells
Alteration spells in general

I was only able to get a maximum of 29% Fortify Destruction using the "loop" of Fortify Enchantment Potion - Fortify Alchemy Enchantments. After a while the percentages stopped going up.

Thanks for the info.

Theificka wrote:I honestly don't like the idea of no magicka costs, it's just cheating.

The word cheating makes little sense when applied to an Elder Scrolls game with access to the Console.