Must have:
Spell Absorption
Increased magery 3x int in spell points
Expertise in your favorite weapon (long blade deals most damage for a weapon, hand-to-hand deals more damage with higher skill, so has the potential to deal MUCH more dmg then any weapon, like 50-100 when using a bunch of magic items)
Optional:
Acute Hearing (helps find things in dungeons)
Athleticism
Damage from Holy Places
Forbidden material Silver (so rare doesn't matter)
Now decide, more HP pr. level or easy leveling.
Start with high int, will and spd.
If you plan on becoming a vamp, only int should be above 80, since all other stats receive a +20 bonus, you don't want to waste stat points.
If you don't plan on becoming a vamp, then spd should be as high as possible, 95 or more, speed kills!
As soon as you leave the starter dungeon, go to the Mages Guild, become a member and go to the spell maker to make an "area at range" damage spell.
Just plain damage, or maybe transfer health or fatigue, one of each element is handy.
It doesn't have to do a lot of dmg as you can shoot it as much as you like, just shoot in to the ground right in front of you, you'll reabsorb the spell, so in effect, casting costs no spell points.
Just remember, if you don't have enough free magicka to absorb the spell, you'll take damage in stead.
Need gear? slay the guards in castle Sentinel, they count as enemies so it legal and all.
Gain ranks in Mages Guild to gain access to the magic item maker, remember hand-to-hand? more damage with higher skill, what if you made a complete set of items that improve your hand-to-hand skill? and critical strike when you are at it, oh yeah, you'll be quite the slayer, and a most powerful mage too!
Also, casting spells cost fewer spell points with higher skill, what if I made magic items that improve my casting skills? well, that would just be too crazy wouldn't it
How about becoming a Haarvenu vampire? they have a special Ice Storm spell that costs less spell points to cast, then you absorb from it by casting it in to the ground in front of you.
What you say? yes you can use it to replenish your magicka.
Also, using a "cast when used" magic item, and cancelling the spell, add the spell cost to your magicka pool, so you can use certain magic items to replenish magicka.
And don't forget your plate mail, tower shield and strengthens armor enchantment.
A running skill of 400 or more, makes dungeon crawling a breeze.
Feeling high level? not until you have made a spell that has a 100% chance of reflecting spells you cant absorb, and 100% chance of resisting spells that are reflected back at you, while restoring all your HP every second, all in a single spell that lasts all day.