Yes and no. On one hand, as others have mentioned, using certain combos of spells will make you completely invisible, one hit multiple enemies in a wide range, add insane stats and on the other you can be one hit by a decent bow. I'd say it relies on: Cleverness, preparedness, and a little bit of luck. I rather like that, as, at least for me this is the very essences of the magic users I read about in fantasy novels and so do love playing as. True it can be more challenging but at least to me its better than being a Daedric armored, duel wielding, immune to magic tank.