My revision of GURPS Ultra-Lite, which I am calling
GURPS Simple Fantasy, is now pretty much finished. I was able to get in touch with Dr. Kromm and verify that using the GURPS Lite 3rd Edition magic rules with my handout would be okay, since the magic system didn't change between editions.
For anyone new who wasn't aware of what I was doing here, GURPS Simple Fantasy is designed to be a free handout to help new players get into GURPS. It's 8 pages long; the first four are simplified rules to help new players make real GURPS characters and run adventures, and the last four pages are a simple starter adventure.
I feel I'm pretty much done with this, but feedback is always appreciated. There is no perfect thing, after all.