Overall a decent idea.
The main difference I would like to see is the bonus from skill school be a flat amount of school specific memory, rather than a reduced memory cost for each skill in that school.
The difference is that the latter is much more powerful and almost forces you to specialize: If Fire skills cost 1 to 5, and I have a -3 memory cost, then I can equip all fire skills at an average of half cost. This could easily be 20+ memory saved, for a few skill points invested. On the other hand, if that same investment gives you +5 fire memory slots, you still benefit by having a free fire spell or two, but not to the same extent.
Yes, that's brilliant. I'd be more interested in that than the current bonus you get.
