I have gone through most of the game and have never seen a need for Telekinesis. I'd like to use it to open a door when you can see the lever on the other side of the door, but it wont work through the door. (if I am in error please let me know how that works)
In Morrowind it was good for stealing stuf from a distance. Have not found a need in Oblivion to use that skill.