I've played Morrowind to death and I'm level 21 in Oblivion, but I have never used the Dispel feature, and I must admit I don't even know what it's for. What is it for?
Dispel saves me from liches many times. But only because they have a knack for reflecting. And with the weakness/spell combinations I use it can most things in a few seconds. I am one of those most things.