Actually, I'm not joking - it's closest cousin (that I'm aware of, anyway...), the Cleric's Guidance spell, is a level-0 spell that functions in much the same way, only it's a flat 1-point bonus, has a duration of 1 minute or until discharged, and can't be used on Opposed skill checks or AC. Compare the differences to that of, say, the differences between Ray of Frost (Sor/Wiz 0) and Scorching Ray (Sor/Wiz 2). Both deal damage (although with different elements). One deals a fairly flat, piddling amount of damage (1d3 for Ray of Frost), while the other deals a reasonable amount of scaling damage (4d6 for each ray, 1 ray for the spell itself, one ray per four levels above 3rd, max 3 rays at 11th level (12d6 damage)). Go up another level and you can compare with Fireball or Lightning Bolt instead - which both affect multiple targets, have longer ranges, have a higher base damage, and scale with level (up to 10d6).
Using Guidance as a starting point, and Ray of Frost (low end)/Lightning Bolt (high end) to establish a step multiplier (Can also use Acid Splash on the low end, and Fireball or Scorching Ray at the high) for a baseline, then Moment of Precience probably would be 2nd/3rd level (although admittedly with a differnt max bonus cap - probably 10).
Granted, there are counterexamples up at 8th level which would indicate that's exactly where Moment of Precience needs to be - Polar Ray, specifically (but come on, who takes that when there are such spells as Clenched Fist, Power Word Stun, Prismatic Wall, Irresistable Dance.... et cetera at that level) - but those also have intermediate varieties that are very similar except for the caps at middle levels. Perhaps there should simply be more steps to the spell - Lesser (2nd-3rd, cap 10), normal (5th-6th, cap 15-20) and Greater (8th, cap 25; Moment of Precience as is)