Fun with Feather
Started up a fresh play through of TR Morrowind; made an Enchanter style character with high Mercantile and Enchant; wanted to spam Soul Trap weapons to generate revenue (no creeper/mudcrab; I went heavy on Mercantile for a reason).
Ended up making enough money to start Enchanting a set of my own gear; wanted to keep it low impact effects for balancing reasons (Maxed the Difficulty slider/numerous difficulty mods); ended up going for Feather Effect on Low Weight/High Enchant Value Items. Was able to build an entire set (minus the belt and weapon) with 1-max capacity feather constant effect. Surprisingly fun and effective without absolutely ruining combat balance.
This is what I've come with: Full Exquisite Clothes (minus gloves/Boots); Molecrab Gauntlets, Cuirass, and Boots; Imperial Newtscale Pauldrons and Greaves; Cephalopod Helm, and Daedric Towershield.
Everything combined weighs less than 100 lbs; bug the combined total feather effect adds up to 430+ Feather, meaning so long as I keep my character's carry weight total below 300, I can keep my Encumbrance at 0 and maintain max run speed and jump height.
While my defenses are poor (about 20 AC total at 40 Light/Heavy Armor), my movement is completely unimpaired by my equipment, right down to my minor Arsenal of weapons and enchanted items.
Best of all, I don't feel overpowered. I use a Halberd as my main weapon, and the movement speed combined with the weapon range allows me to pull off the classic poke and back-step combo unique to Morrowind. Which is fun, because if I screw up and get hit, I'm probably dead; but if I time and space it right, I'm pretty much immortal in melee.
What other fun combinations have y'all cooked up to keep the game balanced but fun?