Vancian Magic is garbage. It was borrowed by Gygax from a book series where the mage is a bumbling idiot who always ran out of spells to be useful. Those books are 70 years old.
This is Paizos chance to forge something new, and they dropped the ball with the magic system. I don't want to houserule an entire magic system to make this game work for me, and I can only hope it's not too late for them to overhaul the system entirely.
