I think we should just take a step back and look at the bigger picture. This game isn't necessarily made "for us", with our optimal enjoyment in mind. We're some of the most experienced DOS players out there, and what we think are the best solutions (from our point of view) aren't necessarily the most optimal or intuitive for the main playerbase. Maybe Teleport is at a good level right now, and the OPness of it can be mitigated by other means, for example through a harder difficulty setting? Perhaps there are other ways to make it weaker, such as more ways to make oneself immune to certain types of spells (e.g Aero immunity, Earth immunity / resistance..)
