I have a character with Enchantments to level 4. All I'm capable of doing is Zap. Am I missing something? Isnt there more?

The higher the level, the more options you'll have!

Mark

You need the "artifact of ..." spells to determine the type of enchantments you can put on equipment.
Each spellcraft has it's own enchantment/blessing, some applied at the wizard guild with the enchantment skill, others with the blessings skill at the priest guild. Each has a different effect on weapons and on armor:
[spellschool (level) - guild - on armor/jewelry - on weapon]
vine (3) - priest - toughness - toughness
spirit (7) - priest - regenerate (on body armor and jewelry) - hit
fiend (6) - priest - armor - damage
sun (5) - wizard - pro fire - flamestrike
stone (4) - wizard - pro magic - zap
moon (5) - wizard - pro ice - iceball?
The sun, stone and moon enchantments on weapons are charged; you have to activate them and they loose a charge. You can recharge them with the same procedure.
The first enchantment on an item costs 1000, and each following costs twice as much.
Note that the amount of increase (for damage, pro fire etc.) is fairly complex: search the forum for details.