It would be interesting if you could adjust the spell points to match up with number of expected encounters. So standard number if you generally do 6-8, significantly less if you do less. Maybe tie that with everyone getting some spell points back during a short rest or even "mana potions".The big issue is using it outside of the 6-8 encounters per day. This lets a character "nova" every combat, since they just don't care about low level spells. With extended encounters, they will have to fall back on cantrips much quicker if they do this.
It would require a fair bit of play-testing though, along with guidance of the style of game you want. Some people might be perfectly fine with casters going nova every encounter, others want a low magic campaign that this could support.
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