Ok, I thought that someone would have figured it out by now but apparently not... Soon after buying the game, my cousins and I where quick to master it. We also happened to find some little "bugs" that we took advantage of in full. Ok, here it goes:

Requirements : 1.You must have at least on Grand soul gem with a Golden Saint in it
2. You must have a soulgem of lesser value (like a common soul gem
with a charge 100 or more
Reccomendations: Mastery of enchanting and all spell schools...

Steps:
1. Put the item you with to enchant into its place and then select the grand soul gem I mentioned and put it in its place.
2. Set the effect to constant effect.
3. Remove the Grand soul gem from its place and put the other soul gem in.

If donw correctly the constant effect satus remains with the crappier soul gem in the place of the grand... Thus creating a constant effect item without using the grand soul gem...

P.S. This was tested a long time ago with the X-Box version --->without<--- the expansion packs... I really dont know if it works now.

It's been fixed.

And probably a good thing it's been fixed too... what can I say, constant effect items can be scary. I had a Daedric Shield that, whenever donned, would spit out a storm atronach as my familiar and keep him there. I'm fairly certain I could probably take something with higher enchant ability, if such a thing exists, or maybe just the actual thing, and have it toss out Golden Saints.

well, for those who want to do the same thing after the patches ect. I suggest getting azuras star. If you didint know, azuras star is the largest and best soul gem,i can carry anything and can never be used up, a reusable soul gem.

Tribunal and Bloodmoon give you several good items to enchant. The Helm of Toham mod gives you a nice helm with 150 enchant value, and I, almost always being a mage, gave it fortify magicka 100 points for 30 seconds.

And a little question to everyone (yes, peregrine, I SEARCHED!!), is there an actual spell that restores you Magicka? Or is that only inside in-game enchanted items or shrines.

I would love a restore magicka effect for my Altmer mage with stunted magicka... I've always wanted to make a ring that does constant restore magicka 4-5 points on self. But I can't without the spell effect.

You can't get restore magicka spells without using the console or using a mod.
In any case I think the magicka cost of these spells is auto-ed as higher than the amount you get out, and takes up a lot of 'points' in the enchantment screen. So basically you're better off using restore magicka potions.

Actually - no it doesn't...

I was just in the construction set. Restore magicka 500 points takes 125 magicka interestingly enough...