Cool! (I didn't want to assume anything.
)
With schools of magic as racial techs, you could keep races from selecting opposing schools, such as taking both illusion and necromancy. Some magic could be generally available, like protection, divination, and other basics. Also, clerical spells could be generally available (every culture has holy men), though like Gandalph suggested, you'd pay for druidic spells. I need to pull out the books again to see what spells could be translated to SEIV....
Another thought I had was having a metallurgy tech, in which higher levels would allow working with better metals (bronze, iron, mithril, adamantite, for example). You could then have armorsmithing and weaponsmithing techs to work the metals, and have different qualities of each type of worked metal (basic, good, fine, and master). You'd start with basic bronze armor and weapons. Add a level of armorsmithing, and you could make good bronze armor. Another level of armorsmithing would give fine bronze armor and (with another metallurgy level) basic iron armor. And so on-- before even getting into enchanted items....
One more random thought: Minor Globe of Invulnerability could be a normal shield, an Anti-Magic Shell a phased shield, and a Dispel Magic spell a shield depleter....
Quikngruvn