I went with a fairly by-the-book set-up for my campaign (almost done, but still needs some stuff to finish it...), with one exception. Instead of using a number of spells/level/day, I went with a number of spell points a day. What that means is instead of having 6 - 0, 6 - 1, and 3 - 2, you have (6*.5 + 6*1 + 3*2 =) 12 points to use each day. Casting spells is the same , taking a number of points from the pool equal to the spell level (with the exception of 0th level spells not burning up a point with a successful check).
Thus far the players seem to have enjoyed it, and I'm planning on taking them through an interesting journey to finish it (using monsters from the various d20 books I have), ending with a confrontation with the Dark One himself.
Oh yeah, the campaign's set after the final battle between Rand al'Thor and Shai'tan, which ended with Shai'tan being sealed in this world, releasing the taint from the male half of the One Power, forcing a mass exodus into the Oriental Adventures map (Thus I allowed the OA races), and Rand al'Thor dead.