I'd say the feat is fair and balanced, only because the monk is already one of the most underpowered classes in the game.
As for it's effects on resource costs, I'd say it's similar to Spell Perfection, and the action economy is still the real limit anyway.
In fact the only problem I have with it is that it's too good in a way that basically makes it mandatory as the 11th level feat for any monk that isn't garbage. I'm just not a fan of "choices" that are so good that only complete idiots wouldn't choose them. At that point this shouldn't be house ruled as a feat, but as a class feature instead.