Theres an easier way than that, and your way makes some other stats go down permanantly.
Just creat a spell using soul trap on target and any attribute enhancements you want for 2 seconds on self. The effects will be permanant.
(I think you may have to have soultrap be the last spell on the list, I can't remember which order it goes in)
If you use this to raise your Intellect (or whatever governs magic power) it will make it easier to raise your other stats.
BTW, Daedriatic Dai Katana is the best! I named mine Hrunting. ($5 to anyone who catches the reference without using the internet)