[MH] Using RPM for lower-powered genres

[tg_ambro]

In the near future (after my DF and MH campaigns I'm working on) I intend to run a Serious Fantasy campaign.

By utilizing Fantasy, Horror , Low-Tech and Martial Arts, I hope to craft an interesting and fun world to play in for all sorts of characters. When it comes to wizards and the magic system used, I want to go with RPM from MH, because it has an authentic and mystical feel that differs from the tactical variety found in Magic.

Today, while speaking with one of my players (who wants to play a witch), I mentioned some of my plans for this campaign, and he said it didn't sound like fun because RPM wouldn't work very well on a lower point budget (something like 200 cps).

I disagree, but realize that I'm far too inexperienced with RPM for my opinion ito be completely informed. So, my question to the more knowledgable:

Can a reasonably powerful wizard be built on 200 points (50-75 points in disads) using RPM? Yes? No? With some conditions?