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so withwith Waking Dreams you can reset any skill tree at the cost of a dragon soul, but why would I do that if I can just go to my skills and make the ones at 100 legendary at any time, anywhere and at the cost of nothing? or is there an advantage at doing it with the black book?
As people have said The Black Book refund's the perk's used, but doesn't reset the Skill Level, any time provided you have a Dragon Soul. Making a Skill Legendary reset's the skill to 15 and refund's any perk's only upon reaching 100 skill, meaning you can continue to Level up above the old cap of 81. You can continue to Level up to gain more perk point's and gain Health, Magicka or Stamina. Resetting Skill's with the Black Book is more useful for Crafting Skill's and to Pickpocket rare item's after which you can respec point's back into other skill's, leaving the skill level's as they where. It's also useful for altering your Character "Class" (Warrior, Mage or Thief/Assassin), by swapping perk's to other "Class" skill's.