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LRC should be converted Reagent Channeling, takes reagents directly from your bankbox. You still don't have to carry them, and they still can't be stolen or lost, but the cost would come back into spells as it should.
Good idea. I would also like to see some sort of spell damage/potency bonus for mages who use regs (provided they carried them in their backpack, taking your idea into account). Both would bring regs back into the game in a big way.
As for inscription, if you allow LRC to apply, you would have to do the same for alchemy out of fairness. Mages have to settle on an overall weaker suit (somewhat) to incoporate LRC, or at the very least, a far more expensive suit to have both LRC and all other desirable stats. Alchemists and scribes wouldn't have to make that decision, since they are most likely not using those skills in the middle of combat, so they would all automatically use a 100% LRC suit with no thought for other stats. So why force them to even have LRC, and just make those skills reg-free?
I'm not really suggesting that should be done. I would, however, like to see 120 skill scrolls for Alchemy and Inscription, and I think the one bonus for having 120 skill could be reg-free crafting.
Or forget everything I just wrote, eliminate regs from the game, and have spells, scrolls, and potions burn up gold right out of your bank account. Now that's a gold-sink
