A Gate is an awesome thing. It does funky stuff with the layout of surrounding environments and populations. I like permanent magical features like the Gate spell, but the consequences of such really do need to be nailed down well to get the full effect of how powerful they are for any magic system, regardless of the campaign setting.
Teleportation is similar to a Gate, but instantaneous. It is super-powerful. If everyone could teleport "at will" we should definitely drop the Movement abilities. Such expense for "movement" would then be a rare spell for unusual situations at best.
Limitations on teleport depend on the play style and campaign:
- For a high power, world spanning game, then teleport should be daily or less and without any further cost. It should also likely only be limited by planetary scales or whatever the campaign calls for.
- For a low level dungeon crawl the teleport is a "get out of jail free" card. Before you had to crawl back out and the infamously short workdays barely broke the surface. With teleport to safety and back in, the game's difficulty changes for everyone.
- For adventure path games a teleport can skip over meaningless trips between each chapter. But they can also skip over meaningful quests to the top of a proverbial mountain simply because such is in sight.
- For sandbox games a teleport can quickly take one outside of the sandbox and end the session there and then. Too often and too cheap and the game leads to undeveloped (and unentangled) locations routinely.
I like teleport costing more than simply a daily spell slot. I like that it would be limited in terms of miles. And in respect to the early version I like that it is unreliable. If you have more reliable methods you go with them first. If teleport can really harm you just by bad luck, then important travel will often be taken by other means (like heading to a combat). The last thing anyone wants is to arrive hip deep in stone in the evil vizier's assassin barracks. (rat bastardry is great, random certain death not so much).
1e was not limited by distance, but to locations the caster had already visited or heard about. IOW, if the DM told you about it, he better have something ready if you decide snap you fingers and go there.
It was also limited by weight, so like a Gate there is only so much that can pass through at one time.
Also, there was a table of mis-teleporting depending on the degree one knew the location. "High" could deliver you a number of feet above ground depending on the roll. "Low" could do the same into the ground below, so there was a chance for instant burials, if you'd never seen the place.
One major point to note: Both Teleportation & Gate presumed they were cast to a location upon a solid surface. I kind of prefer the option not to do so, but then "Forced Teleportation" of another is basically a Touch of Death spell or even Imprisonment. Teleportation Circle is even worse, if the caster is prepared for where they're all going. Taking such things into account for balancing the magic system is every bit as important as including flavorful details like the odds of having to saw your friend out of a tree.