If it means much, Wil, I don't stack them up necessarily against the Wizard, which some might, but instead the Bard, which they more closely resemble. Even then, they don't quite hold up against one. The Bard has equal skill-points, equal hitdie, more spells per day after a few levels, armored spellcasting, better weapon proficiencies, and a few other abilities which mimic and sometimes are better than those of the Channeler. The Channeler has a greater range of spells they can know, sure, they can cast low-level rituals willy-nilly, time allowing, and they can access higher level spells, but I'm not quite so sure that makes up for it. I also don't think a high level channeler is a much better spellcaster than, say, a 5th level channeler who multi-classes into another class.
I don't necessarily think that making the Channeler into a spell-lobbing, fireball-hurling, wish-granting monster is the way to go, as I can acknowledge, that's not really Midnight, but I do think they could do with a few other bonuses - perhaps reduced Arcane Spell Failure as they go up in levels, or a non-spellcasting bonus feat here or there.
I do realize some prestige classes really make up for any possible deficiencies in the Channeler class, but I also go by the philosophy that a base class should be just as viable/powerful as a prestige class, as there will never be enough prestige classes to fit every character one might play.
As I said, I don't think the Channeler needs to be a better spellcaster, but I think a few other higher level abilities other than metamagic and spell school feats would balance it out.
Other than that, though...I don't think I have a single other complaint about the setting itself. It's easily the best d20 book I've picked up.
Of course, those that have actually played channelers don't seem to have a problem.
