i'm at level 30 and i have customised my character so she levels up very slowly - i've completed most side quests and most of the main quest
i wasn't saying you need a altmer to have high magicka - what i was saying is for me, the altmer is providing the best role-playing experience for the customised character that i wanted to play. since i am not into power gaming this is the most important aspect of an rpg for me. i have not tried races other than dunmer and altmer, so the argonian may be good too, i don't know. i just know that i really like the altmer.
edit: i also only have a couple of hundred thousand in gold because i can't be bothered selling or even picking most stuff up anymore. the stuff i like i just save at my stronghold for a rainy day lol. out of interest, how do you get 600 magicka without cheating when the max intelligence is 100? my intelligence is maxed out, and i get loads of magicka bonuses from being altmer and atronach - i don't use cheats so there is no way my magicka would increase anymore without items.