Chaosmancer
Legend
I will separately focus on this just a bit.
Both myself and yourself have said that in our games we rarely see Counterspell used. Very few NPCs or monsters in any given campaign would have access to counterspell. Many more have access to a dispel effect or anti-magic one ( like a beholder), which only take effect after the spell has already been cast. So yes, losing the ability to be counter spelled IS a benefit, but is it really a big one when the application is so niche?
Similarly why would you say that lack of components necessarily renders a spellcaster hidden or unnoticeable? Some spells have obvious indicators built into their descriptions, like Fireball not only clearly indicates to everyone in the area something happened (a big explosion) it also has a precursor effect of having a small flaming ball shooting out from the caster towards the target before it explodes. Other spells remain silent on the matter, so it is up to the GMs interpretation on what sort of indication there is that something happened. A Mind Flayers' mindblast power, for example, doesn't necessarily have a description on how it interacts with the atmosphere or the surroundings, but it would be completely fair for the GM to describe a "cone of energy emitting from the creature" right before 4 party members fell over bleeding from their eyesockets. The visual indication that a spell is being cast doesn't have to rest solely on the backs of the caster using VSM components to cast the spell. This is literally what displays were in 3e, a method of balancing the powers by not letting a player rest on the idea that everything is super silent and super hidden.
Merging this reply with my previous reply to @Vael....
Would you feel that a psion class with no component casting was fairly balanced by instituting a metal cap=no casting rule AND obvious displays attached to each power such that the psion (with few exceptions that need it for the powers to work correctly) is obviously doing something when using a power?
I think the metal cap issue causes problems in regards to armor. Which Psions will be able to get. I much preferred my Blindfold idea. But, the cap idea does also work. I don't like it aesthetically, but something along those same lines could be used (brass or copper circlets?)
I tend to agree with you that the ability not to be counterspelled is fairly niche and not that big of a deal, in our games. However, I have to acknowledge that for some tables, the ability to not be counterspelled is considered one of the most powerful abilities you can have, and nearly solely carries the entire sorcerer class for those people.
Since I am not sure which table is the outlier, I can't judge if it is a huge deal, or a minor deal.
A lot of people also say that casting a spell with no components is unnoticeable, ie, there are no displays. Something like shatter is a blast of force on a point, with nothing visibly connecting the caster to the event if you take out components. For a spell like Phantasmal force, there is no reason to assume anything visible happens at all.
This becomes such a hit or miss aspect, that in terms of thinking about the power, I find it would be safer to assume that there is nothing connecting the event to the caster, unless explicitly stated. Now, my players would likely want there to be most of the time. They want their caster to send out massive waves of light, or crackling energy, simply because it looks cool. But, that is not a guarantee, simply a preference they have when it does not matter. I would not be surprised to find that when it matters, most players would instead prefer to not be noticed.