comrade raoul
Explorer
Consider the following feat. It yields a character who is probably weaker than the mystic theurge (except for very high-level characters, who will be able to cast ninth-level arcane and divine spells), but accomplishes the same goal with a feat rather than a prestige class, so perhaps it wins points for elegance.
Theurgy [General]
Prerequisites: Ability to cast second-level arcane spells, two levels in any divine spellcasting class.
Benefit: Select a divine spellcasting class that you have at least two levels in. When determining which arcane spells you prepare (if you prepare spells) or which ones you know (if you cast spells spontaneously), you can also prepare or learn any divine spells on the list of the class you chose. The level of the spell does not change; thus, to learn a 5th-level divine spell, you must have a 5th-level arcane spell slot available. You still cast the divine spells as divine spells, even though you have prepared them in slots normally reserved for arcane spells.
(Thus, a wizard 4/cleric 2 could take this feat to prepare any 2nd-level cleric spell as a wizard spell.)
It's also nice because it allows bards, and other more equivocal arcane casters, to expand their spell list in an intuitive and balanced way. On the other hand, using this feat is probably a bad idea if you include nonstandard spellcasting classes whose strong class abilities are balanced by a very constrained spell list (like beguilers or duskblades), since this feat greatly expands the spells they have access to. (It is a bad idea to have duskblades who can cast divine favor, or beguilers who can cast flame strike.) I feel pretty confident that the feat is balanced-to-weak for campaigns that only include the PH classes, though.
Theurgy [General]
Prerequisites: Ability to cast second-level arcane spells, two levels in any divine spellcasting class.
Benefit: Select a divine spellcasting class that you have at least two levels in. When determining which arcane spells you prepare (if you prepare spells) or which ones you know (if you cast spells spontaneously), you can also prepare or learn any divine spells on the list of the class you chose. The level of the spell does not change; thus, to learn a 5th-level divine spell, you must have a 5th-level arcane spell slot available. You still cast the divine spells as divine spells, even though you have prepared them in slots normally reserved for arcane spells.
(Thus, a wizard 4/cleric 2 could take this feat to prepare any 2nd-level cleric spell as a wizard spell.)
It's also nice because it allows bards, and other more equivocal arcane casters, to expand their spell list in an intuitive and balanced way. On the other hand, using this feat is probably a bad idea if you include nonstandard spellcasting classes whose strong class abilities are balanced by a very constrained spell list (like beguilers or duskblades), since this feat greatly expands the spells they have access to. (It is a bad idea to have duskblades who can cast divine favor, or beguilers who can cast flame strike.) I feel pretty confident that the feat is balanced-to-weak for campaigns that only include the PH classes, though.