Hello all,
First of all, ZOS - Thank you for this great Chapter Morrowind.
When I was reading the patch notes, I was mad. And sad. All those nerfs (balances). It gave me a feeling which I would be weaker. No Magician Champion Point?! That was a shock for me because my resource management wasn't even good. But, I have read those patch notes carefully and applied my Champion Points different. Now I see the difference. I HIT harder and I became more survivable. Before the patch I was hitting like 14K with just 1 Spell (Funnel health). Now, I hit 21K with 1 Spell (Funnel Health). That is awesome!
Regarding the Resource Management. I have 44K Magicka and 16.5K Health as a Nightblade Magicka. Before the patch, I didn't had to use that much Light and Heavy attacks (even Siphoning Strikes) to get Magicka back. Because, my Magicka attacks wasn't that expensive. But now, it is expensive and I have to work different. This situation got me very mad. But, I have been testing and testing in order to complete my goals.
What I have seen is, I hit much harder and accurate (Crits). I have 78% Critical Chance - 2432 Spell Damage (Unbuffed) 2981 (Buffed). I ALWAYS hit Critical, almost. (I am PvE oriented.) With all these stats, I wanted to try something. I went to a random city and killed a World Boss. It SUCKED. Why? My Magicka drain was awful. I did not got my Resources back (in a fast way). Then I tested something different. I used Siphoning Strikes every time. Used heavy and light attacks between my rotation, used 1x Glyph for Magicka Recovery. Guess what, AWESOME! I don't run out of Magicka quickly (thanks to fast recovery *I have 1109 Mag Recovery* I am a Vampire.) And thanks to Siphoning Strikes. So, now I am able to solo some stuff as I always did. With that 1 Glyph I lost some Spell damage but it's okay.
My fear was, what if my Magicka skills used TOO much magicka.. What if I could not get Magicka back that fast? Because, before this Update I was able to solo almost anything *almost*. But with testing and testing, I think this was the best Update in all times.
For those people that worry about Resource Management, don't get mad or sad like I did. This balancing is actually better. And makes everything balanced. For low CP players as High CP players. You still can be a very good Damage Dealer. But you have to make things go different. (Play style).
Sorry for the long post but, I just want to let know that this is great.

And of course, English is not my native language so please forgive me about that.
PS: As a Magicka DD, the Champion Point (Master in Arms). Does it really work with Staves and Magic Damage? Or is it just for Melee (Physical)?
Thank you!
TL;DR
This update is awesome and I like it. Don't worry about your Resource Management!