He can't use a large number of his spells now (foci or material components)
I don't know exactly what you mean by foci, but VoP doesn't prevent using or carrying material components, even expensive ones- it just prevents the PC from BUYING them. He can exchange his labor for them. They can be given to him. He could even harvest them himself.
Certainly, a VoP PC would feel uncomfortable carrying certain material components, like the diamond for Stoneskin. A VoP PC might 1) carry the stone until used, or 2) until he encounters someone in need of some money, or 3) might eschew even learning such a spell.
The last guy I discussed this with seemed to think that a spellcaster couldn't have a spellbook, since it, too, has great value. However, since the only value of a spellbook is the spells contained within, its "valuable" only if the PC writes something in it. Its a little tortured to think that a VoP spellcaster couldn't keep a spell he wrote down for reference because he has (essentially) just created a magic item.
Besides, as I pointed out to him, a super-tight, 100% literal reading of VoP would also keep a Bard from owning any instrument or art supplies, or a cleric from carrying his Holy Symbol- neither of which was intended, IMHO.