Just a note, since its a common mistake: the point budget in Hero is not to set everyone at the same capability level. There's a reason there are secondary limitations in most versions.
What its there for, is to set everyone at the same starting point and thus able to arrive at the same result if that's what they want. You can't really set everyone at the same capability, because even what that means is not clear in Hero (or any other game). The power build system (which, its to be noted, is not the whole of the system and in non-superheroic games is often far less part of building a character) is set to at least theoretically making a power of the same cost of the same overall value, but that doesn't describe the character as a whole as there's a lot of other factors (you can, of course, argue whether that power balance entirely works, but its still not about the character as a whole).
However, my point in bringing it up is that the math in Hero serves the purposes of the kind of people who want to use it, because making the fine distinctions it does matters to them. People who don't care about those kind of fine distinctions are of course not going to find it worthwhile, because its extra effort for something they don't care about.
I mean, you can get to that by just letting everyone list the abilities they want and define them potentially to suit themselves, but I'm not sold even a significant minority of players and GMs would find that satisfactory on various grounds.
So barring that, I think if you try to ask "how much math is acceptable" without asking about how detailed people expect characters to be, your question is functionally nonsensical.