[quote=PyrosEien]You do keep your spells though, I did a few respecs to learn more spells. Get to 5 in a school, learn a bunch of spells, respec down to whatever and you keep the spells. AP penalties still apply, but useful to have 6 novice spells at lvl 1 for example.[/quote]
If this means I no longer have to run around looking for skill books after a respec, this is great news.