dtgreene: The cap, excluding bonuses from equipment or the primary skill bonus, is 100.
The hard cap, including bonuses from equipment and the primary skill bonus is 125.
Each class has a primary skill that they get a 25% bonus to; in the case of mages, it is Wizardry. That bonus can exceed the 100 cap, but not the 125 cap (though that 125 cap only becomes a factor if you also have equipment to boost the skill, and there's no equipment (to my knowledge) that boosts Wizardry (I think there's something that boosts Psionics, however)).
Your mage with 103 Wizardry actually only has a base of 83 if if you don't include the primary skill bonus; this will become apparent if you change that mage's class. It is because of the primary skill bonus that your skill can exceed 100; equipment that boosts a skill is the other way this can happen.
Hmm interesting thanks it makes sense I never thought about the 25% bonus extending the cap I just figured it gave a headstart on reaching the 100 point skill cap. Here is another question you might have insight on. I have heard claims that by using the Bright Helm to give someone 120 in intellegence it will allow them to get 125 skill for power cast. I have never been close to capping power cast as I have a tendency to think of different party configurations, plus the new shiny factor of other games. Have to ever gotten to the cap on power cast? Thanks for the reply!