I personally like the idea of craft-able spells and enjoy crafting. Should there be some new spells worthy of the higher levels? Like level 100 or something, since by that level, Goat Monk is pretty useless.
Or perhaps make the "new" spells craft-able. Like Monster Mash ...
I kind of lost my appetite for craftable spells since Loremaster was added to the game. Before, if you had a crafted spell, it was a nice accomplishment and proof of your hard work. Now it's proof you can farm a weak boss for a weak straight.