Breton is better, it has increased magick and reduced cost, plus increased spell resistance.
Altmer has Increased Magicka and Magicka regeneration, but the other bonus is a buff to fire, ice or lightning attacks, and the templar uses light based attacks, it has one fire attack if I recall.
Thus in my personal opinion Breton is probably better.
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Without softcaps (1.6) regeneration is better than cost reduction.
If you want to cast as many skills as possible, go for Altmer and wait for 1.6.
If you surpass 200 Magicka Reg, the 9% bonus is better than the Cost Reduction.
If you want to go on burst without spending glyphs for Magicka Reg, go for Breton.
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Nathaerizh aka Cat - Nightblade V16 - EU