Doesn't this belong in the 4E house rules forum?
Bugger, lost a post.
I really, really like your action point-Daily houserule. Very, very much. MM get that




into the DMG2 quick !!
I was considering something similar to your
Wounded] condition after I first read the PHB, but I found my group didn't really care about the instant healing so it is on the back burner for now.
However I was going to use the bloodied condition as the maximum HPs a wounded character could heal until he had some days (or even weeks) of bed rest. And I would encourage the players to come up with their own wounds.
XP: I dont give out XP any more, there is no reason too; unless you have a lot of players that split from the group or give out hefty RP xp rewards. I level them up after they have ploughed through a few encounters, I keep a rough track, but make it fit into our sessions.
Milestones: Very like XP, but I dont keep very good track, as long as I feel they have done something significant - not just killed a couple of goblin guards - I'll hand out Action Points. I like 4e because it supports my casual style more so than 3e, I'm not very organised, I like to story-tell.
Magic Items: Your spontaneous magic items reminds me of the Computer RPG Baldurs Gate, a lot of the magic items were created by this kind of spontaneous magic. It is actually a great resource, there is a program that can extract all the magic item histories from the game discs. I should dig it out and add this to my own game.
Rituals: My players arn't as enthused about them as I am, I think they are great and my NPCs now make liberal use of them. I will start handing them out as treasure and use your component idea so they dont feel like they are spending their gold.