Personally, I think that the problem with Magic itself isn't that it as a whole is Commonplace or not, but that the wrong kind of Magic IS Commonplace. Seriously though, with all this Magic at hand [Like FR], there should be more Magical places and Magic items that deal with basic living and doing various things. [How many Nobles would love a mansion where everything always remains clean? Many fewer Servants are needed and it just looks slick] When more Magic items are listed in a book, it's all weapons/armor/ways to kill/ways to protect. Although I understand the need for such things, I believe that if even a small portion of that energy [in FR; not necessarily RL] was spent to make peoples' lives happier, things would be VERY different.
People seemed to be too focused on combat though, so that's what Wizard makes [I don't think it's the other way around, but I'm not sure], but like Nobles who shouldn't need to worry about fighting, I believe they would hire out to have Magical items made to make their lives easier, like Ring of Unseen Servant Hordes to replace their normal servants, variant versions of the Unseen Servant to do different types of jobs, Magical beds to make their sleep more comfortable, things like that. What do people like to do in their past time?
Think of sports. I'm sure if Magic existed nowadays, people would devise Magical items to make their game better. Fastball of speed [make it even faster], Bats of accuracy [make sure you hit those balls], Football of Throwing [throw much farther], Gloves of Dribbling [In case you're having problems], etc. I KNOW there's got to be some sort of sport in FR that is popular that people would try to cheat at. And that's just one of the ways Magic could be used.
So in conclusion [

], I think it would be better to not have Magic always focused on combat as it is now.
Edit: This would include spells too; should be more spells like this, that aren't solely for combat, though I suppose no Sorc would ever take these.