If you are high enough to have formal magic, you probably have a few banes and cloaks. But those are very limited in number: 1 bane per 3 9th level spells and 1 cloak per 2. Furthermore, they are incredibly specific. If you want to cover every single effect group (binding, alteration, command, eldritch force, necromancy, did I miss any??), you probably only have 1, MAYBE 2, of each per day.
Now that I've had a chance to read your whole post, I would like to point out the following change(s) to HM and Cloaks/Banes in relation to Ritual Use points:
Similarly, High Magic which characters choose when to activate requires Ritual Use points just like these sorts of Magic Items. However, these High Magic abilities are no longer tied to a certain number of 9th level spells or specific spells in memory, giving them much more flexibility.
A 30th level Scholar has 41 Ritual Use "points" that will, if I am reading this correctly, give them the ability to get a great many more Cloaks/Banes, making them far, far more available than in 1.3.
Let me see if I can figure this right:
Every 5 Formal Levels and 2 Ritual Use points, a Scholar can buy:
1 Cloak and 1 Bane.
30 Formal isn't unheard of around here, so that's 6 pair of each and 12 Ritual Use points, which is 6 Cloaks and 6 Banes in addition to 10 Wand Charges (maybe more, I'm not a master Scholar rules person). Or, 15 Cloaks for 15 Ritual Use points and 10 Wand Charges.
For comparison, under 1.3, they would also need...what...eighteen 9th level spells for 6 Banes? And thirty 9-ths for 15 cloaks? I admit I am not super strong on High Magic maths.
@Alavatar Could you explain/math this?
Scholars gain additional Ritual Use points at the following rate:
Scholar: 1 Ritual Use every 7 XP [41 uses at 310 total XP]
Now, given this, do you still feel the same? Also keep in mind that the number of effect groups has gone down, making it easier to both cover all of the effect groups AND have multiple for each group.