While I agree that Magic needs a revamp (and I've
written a revamp) to change the value of IQ and Magery and single point spells, I don't know that a 3d bu ex attack is worth 11+ points.
That's a bit of a simplification. The first 3d bu ex attack is probably worth closer to 20+ points. The problem is that the second 3d-3 bu ex attack isn't worth 20+ points - it's an alternate ability of the first attack, and worth 1/5th the cost. And so on and so forth for every advanced ability: they're drastically overpriced as soon as you have more than 2 or 3 of them.
Regardless, the proposed revamp is going to confuse experienced players, who are going to wonder why they can't cheaply learn some spells, and other spells get vastly expanded utility (ie, Summon and/or Control Elemental).