There are lots of opinions on the first edition magic system. Broken - is what you hear quite often. The later Realm Of Sorcery didn't get a lot of love either. Magic got a proper revamp in second edition. At last it worked.
I already mentioned that Second was a somehow tamed version of First. A proper roleplaying game. Magic became - rule wise - a much easier, more approachable, more scalable and balanced system.
Honestly, I like the first edition system. Yes, clunky, unfair and weird. But, isn't that exactly the point of magic in Warhammer? In a wonderful, most likely unplanned way, the rules add to the mystery of magic I'm WFRGP.
I would say I am pretty on top of First rules. Anyhow, I have to go back every now and then to reread the magic section. Whenever I think I am on top... it slips. How much does it cost to advance? What is the process of learning spells?
Magic is a horrible, deceiving beast! It doesn’t want to be understood. You can’t claim it. That’s Oldhammer!
Or, I am just getting old.