All spells take from a common pool of "charges". It doesn't matter whether or not you're casting something relatively weak or something insanely strong. If you have it, it costs just one MP.

If you've got your max number of charges ( 8 ) and if you wanted to cast Quietus eight times, go right ahead (good luck getting it, though). If you wanted to cast some sort of healing magic eight times, you're free to do so as long as you have those charges. You're encouraged to pay attention to your common pool of charges since they ain't that cheap to get. As far as I can tell, they're more for that extra "push" when you really want to beat down that boss but just don't have the kind of strength to do it.

Try to believe me. I'm the guy programming it

Do the charges 'recharge' while playing? (maybe slowly, so that you still have to pay attention to your mana pool, but you occasionally gain a point)

On the subject of GPs, I hope you don't have to pay to save your game, right? I don't remember if this was brought up before, but this is something I hated from Final Fantasy 1 on the old NES. It wouldn't let me save without sleeping at the inn.

This sounds great!  I'm glad you can save pretty much anywhere also.

In light of recent editing, I thought I would go ahead and share the equipment inventories from the game. (minus alchemy, or otherwise consumable items) As you can see, there is quite a lot to choose from when it comes to equipping your characters!

Light Swords
Ardent Steel
A light-weight sword wrought of the finest steel.
Dainsleif
Sword that cannot be sheathed until it has drawn blood.
Kiyomori
Oriental blade fabled to bring darkness.

Knight Swords
Broadsword
A sturdy broadsword standard-issued to knights.
Flametongue
Damascus steel decaled with wonderous flames.
Wyrmscorne
Sword infused with the bane of dragons.
Venged Sword
Sword that avenges its wielder.
Justiciar
Ornate blade used to administer justice.
Maven Steel
Testament of a knight's eternal love.

Axes
Francesca
A common axe used by woodsmen.
Ogrish Axe
Axe forged for use by ogre-kin.
Stormrender
Axe said to conjure the power of storms.
Stonecutter
An axe that can easily pierce stone.
Ruinous Axe
A ruinous axe bearing a powerful curse.
Atlantis Axe
A legendary axe and last remnant of a lost civilization.

Bows
Long Bow
A standard long-bow used by hunters.
Elfin Bow
An elfin bow enchanted with powerful magick.
Acrid Shot
Bow cursed with a venomous scourge.
Ophidian Bow
Bow that is said to have once belonged to a great deity.
Gastraphetes
A swift, light-weight crossbow.

Staves
Wooden Staff
Common staff held by magic-users.
Shillelagh
A blessed cudgel held by war-priests.
Seraphim Rod
An angelic scepter once wielded in the heavens.
Vespertine
A staff that encompasses the power of darkness.
Arm of Light
A staff inscribed with sacred runes.
Ajativada
A staff whose muted screams speak delusions of non-creation.

Light Shields
Clasped Cape
A common cloak used in fencing.
Escutcheon
A small, wooden buckler.
Gold Capote
A swift cape that conceals its wearer.

Heavy Shields
Pelta Shield
Standard-issue shield of Asnoth's Royal Guard.
Drachen Ward
Shield enchanted with the essence of fire.
Aegis Shield
A shield capable of warding a gorgon's curse.
Kraken Scale
Powerful ward crafted from the carapace of a legendary beast.

Headwear
Feather Cap
A distinguishing cap worn by aristocrats.
Silken Hood
Hood woven from the finest silk.
Headband
Headband commonly worn by fighters.
Ribbon
A mysterious ribbon enchanted with protective magick.

Full Helmets
Bascinet
Standard-issue helmet of Asnoth's Royal Guard.
Skull Visage
A grim helmet worn by undead armies.
Drachen Helm
Helmet crafted from a dragon's skull.

Light Armour
Cambric Vest
A commoner's shirt.
Kenpo-gi
Training garb worn by fighters.
Shadowstich
Dark vesture sewn from patches of undead flesh.
Minerva
Light-weight armour forged by elfin disciples.
Serpentskin
Tunic made from the skin of a serpent.
Archon Robes
Robes worn by powerful arch-mages.

Heavy Armour
Brigandine
A hardy leather tunic.
Coat of Mail
Standard-issue armour of Asnoth's Royal Guard.
Drachen Mail
Armour enchanted with the essence of fire.
Mirror Mail
Reflective armour that repels magick.

Accessories
Gauntlet
Standard battle gauntlets used in the aid of sword-fighting.
Black Belt
A black sash that distinguishes fighters.
Genji Glove
An oriental gauntlet that hails from a distant land.
Hydra Scale
The segmented scale of a hydra.
Cobalt Band
An arm-band that wards cold magick.
Jade Armlet
An armlet that neutralises venom.
Lamia's Tear
A pendant that wards enchantments.
Angel Ring
A ring that grants its wearer divine favour.
Ornate Ring
A finely ornate ring that once belonged to the heavens. (Lost Legends 1 item)

I know it's really minor, but I'd like to suggest the usage of "elven" over "elfin". "Venged sword" seems a bit awkward to me(not sure "venged" is correct either). Perhaps "Avengers Sword/Blade", "Vengeance /Blade", or Vengeful Sword/Blade?

They're both archaic forms. All the game's dialog and textual assets use archaic words and spellings to compliment the medieval theme.

Nice ^^, that's a lot of equipment too ^^