Lalato
Adventurer
And magic in D&D is so odd because it tries to be balanced. The whole Vancian concept is just one way of trying to limit power so that it can be put into a level based game. Thus, the game generally tries to make it common place and normal, while ignoring the effects it would actually have on society.
That's why you have all these wonderful debates.
D&D 3E is all about the attempted balance. And any time you try to shove balance into a system, you are going to have a certain degree of friction. Imagine this. You are an awesome boxer, you can pretty much win any fight you want. If a man with a gun walks up to you and shoots you, you pretty much can't do anything about it. Now, 3E balances this situation by saying the guy with the gun only has six bullets, and he can only get new bullets once a day. Realistic? Perhaps not, but it does try at balance. As long as you want your 10th level wizards in contention with your 10th Fighters (to nudge the old age debate), you are going to have this skweded and odd magic balance that creates the "unlike fantasy literature" element.
If you feel the "balance" of the classes is altered by the use of magic... one of the easiest ways to make things more balanced is to throw out the XP progression tables that were introduced in 3e. By making it more difficult to advance in spell-caster levels... you'll immediately change the game to lower magic.
--sam