Enchanting is no longer a skill. We felt that was too unbalanced in Morrowind. It is now more like Daggerfall, where it is a perk of gaining rank in the Mages Guild. It is something you have to build up to, and then you can make your own magic items. There is another way to make your own magic items before that though, through Sigil Stones found in the planes of Oblivion. These are magical stones that come with an effect on them, actually two effects, and you can use them to place that effect on a weapon or armor piece of your choosing.