Magic is in theory a good thing in FF2, because it replaces the hugely redundant -ara/-aga system present in modern games that sees lower level spells unused at higher levels. The main problem is that many people don't have the patience to level up magic, or find it isn't enough to take on monsters especially since physical attacks do the job so well. If it were up to me I'd probably remove the ability to gain stat-ups from offensive magic cast on allies and increase the speed of levelling and possible increase the cap to like 32 or something.