Eternal Bound Items
If you want to keep a bound item there is a simple way to do so. First cast the bound item spell. Then open the inventory screen, unequip the item and try to drop it on the floor, it will tell you that you can't do this.
Close the inventory menu and open it again, try to drop the bound item on the floor again and it will let you drop it.
Close the inventory and wait until the spell effect wears off (the little symbol in the bottom-right hand corner of the screen disappears) and pick the item up again.
You now have a bound item that won't disappear. N.B, don't put the item into any container as it won't let you take it out again.
More tricks, tips and cheats for this game are right here - The Elder Scrolls III: Morrowind cheats
Comments for this hint