One more that I made in Morrowind:
Ghost Trap:
Soul Trap 10 seconds on Touch
Absorb Health 15 points for 2 seconds on Touch
The idea is that I summon an Ancestral Ghost and immediately cast Ghost Trap on it; it's a very effective way to fill Common Soul Gems.
As a side note, here is one effect I placed in a belt (20 enchant points):
Drain Health 50 points for 1 second in 39 feet on Target
This effect instantly kills anything with 50 or less HP in the area of effect. Doesn't work as well as a spell because the game adds one to the duration in the formula, but works nicely as an item spell. Against groups of Cliff Racers (except, from what I have read, the Blighted ones), will kill them all at once. With an Ancestral Ghost soul, there should be enough charges for at least 5 casts (more if you have good Enchant skill).