Ive actually found that regardless of my characters starting abilities I always end up with an Uber-Character, with almost all useful skills trained to 100. Morrowind gets kinda lame after you've learned the loopholes, at least for me.
I only wish my computer could handle it, then I could retire my character and become a modder.
but no, Im stuck to the box
Have you tried the modding tools on your computer? Performance doesn't always matter so much when you're just modding - it might make it a bit frustrating, but you can work around it. It might have less requirements, even.