[Black Leviathan]

Technically, no that argument doesn't work.

Rules As Written a spell is a spell. Purchased with the same rules as skills but removed from the Skill section of the rules. Just like Insta-skill can't purchase an advantage that works a lot like a skill does. Argument can be made that in the game world, magic just a different form of Chemistry or Cooking, just Neurons lined-up correctly in the grey cloud between your ears. But that still doesn't mean that skill translates into Spell in this case. There's the issue of regulation of magic in the game world preventing the production of magic tech. Accessibility to knowledge about the spell could make it not commercially viable. The metaphysics of magic and their comparability with nano-tech may simply not allow the technology to function.

It would be entirely a GM's call if magic can be Insta-skilled into your brain, but if it could, certainly it would be purchased with the same point-system as skills.