So the lists have not all been playtested but I am currently running for 3 different groups using these rules and have another friend running a game of his own using these rules. SO we are working on it lol. The other thing to keep in mind though is that each class is also totally rewritten. You get class features and abilities at every single level 1-6 and 7-8 effective level.Have these been playtested? I can easily see a situation where folks start seeing that Class x and y are poor choices to z.
So the spell list is meant to be complimentary to the class and what it does, as opposed to saying "Fireball is the best spell."
For instance, Duskblades get Haste as a first level spell, not a problem since at first level it targets one creature and lasts for 1 round. At 3rd it hits three targets for 3 rounds, so nothing ground breaking, but a nice boost to the gish in a can.
Spellthief gets things like distract assailant and critical strike
Beguiler gets things like invisibility and bolts of bedevilment etc
So it isn't that any one list has the most potent spells, it's that they each compliment what the class is doing.