Utterly Mad

First step: obtain the skeleton key from nocturnal or become a vampire. This gives you access to "fortify skill" as an enchanting/spellmaking component. You need one of these because no spell merchants in the game offer a "fortify skill" spell. being under the effects of the skeleton keys "fortify lockpicking 40" effect gives you access to it though.

Second step: Create a spell which fortifies restoration 100 points for 1 second. any more than 1 second in any fortification spell requires at least 25 restoration to create.

third step: cast spell and quickly activate the spellmaking altar to create more fortify spells.

fourth and final step: the cost and power of enchantments is partially based on your skill level in the magic school you are attempting to imbue an item with. Use your fortify spells to create end game enchanted weapons and armor.

It's not permanent, so it isn't fully morrowind level, but the potential is high considering how underpriced casting fortification spells is. It works really well if you fortify alchemy to create game end poisons/potions as well as the potion stuff.

I have a theory about cheesing spell requirements by mixing spell types as well, but no time to test now.