Radek, atronachs capture most magic attacks for their own use, everything from bonelord and dremora spells to things like alit breath.
And you can always re-charge at any shrine or imp. cult altar: not getting Magika from sleeping is a very small price to pay for 3X the total...
Race wise, I do like the bretons: good resistance, and an extra .5x [total of 350 for a breton atronach with 100 int].
I like restoration for a major/minor: gives you 'heathheal' as a begining spell, which is super, and easy to train-- just have a spell made that heals you 1 point for 1 second.
Destruction and alteration seem to be the most important schools to me, though if you plan on doing a lot of sneaking about, illusion is pretty important, too. I love the fact that you don't really need to choose between them, can max them all out eventually.
Alchemy just isn't important for the way I play: I rarely use potions for anything but a health or magika boost during combat, and I can find enough of them that I never bother making them. Money stops being a problem early enough that I never tried making them for sale, though I know some players do.
Armor wise, I'd go with light in your major/minor. You could always step up to heavy once your strength is high enough to make the extra weight meaningless, or go unarmored once your speed makes it practical.
Oru
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