Starfox
Hero
I'm a fan of fairly high magic/magic as technology. Magical classes as fairly conventional professional options for talented people. Characters have triple the book wealth as a baseline and work their way up from there. Extraplanar creatures are regularities. Magic is widely understood and used for practical purposes and regulated and monitored.
This is very much how magic is in my games, but that is partly because of the preferences of my players. IMC, the world is coming out of a dark age very much because magicians have started pooling their knowledge instead of hoarding it. This has repercussions in every other aspect of society.
But I can also see myself playing in a much more fairy-tale like setting, still with quite a bit of magic but with less magic as technology - no magic shops, no sharing of magic lore, and magic is a product of faeries/demins/angels or nature itself. This was how my Pendragon games ran - magic was actually fairly common, but never controllable or predictable.