For those with a -lot- of magicka to spare, now you can reduce your chances of dying in Werewolf or Vampire Lord form (no armor) with Energy Shield. It reduces your Magicka by 1 for every 4 damage you take (I think). Energy Shield + Alteration Spell combo will ensure you live long enough to enjoy your killcam animations ;D
"Is she blood-related? If not, j-j-jam it in! If so, meh...j-j-jam it in anyways!"
I say balanced if you don't use exploits. If you have 100% reduced magicka costs enchantments then yes it gets ridiculously easy. But so did vanilla skyrim at that point too. The spell pack just gives more variety then.
I don't use exploits when I play as a mage since it makes the game too easy. So in my game it's balanced.
"It has become appallingly obvious that our technology has exceeded our humanity." -Albert Einstein, German Scientist