User blog comment:Jimeee/Skyrim 1.9 beta update adds Legendary difficulty and raises level cap (Updated Apr 8th)/@comment-82.121.218.69-20130316221447

Apparently resetting skills is your choice, so you don't have to if you don't want to. Also, you keep the gear, spells, health and magika pools you previously had.

Say you enchant gear to decrease magika cost to 0 for illusion or alteration, build them to 100 and reset them, you can still cast them for free and re-built them somewhat quickly, gaining new perk points as you go.

Of course if would be a pain for those slow-levelling skills.