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I read it, and besides giving archers the ability to fight in melee and adding new potions, while also improving ballistics (we need to think about rewards, maybe giving some kind of meat, for example, units from the Cove faction), there's nothing particularly interesting. (skd writes well).
The simplest way to balance magic is to swap some spells around, without reinventing the wheel with some nonsense about movement points.
For example, make teleportation a water magic spell. Then, in the late game, water will be essential, and earth won't suffer because it's already overpowered due to oil. (As an alternative, swap prayer and teleportation).
As for fire, I might be exaggerating, but for example, move implosion to fire (swap it with sacrifice), and in addition, make the 5th level of fire immune to counterspells, i.e., implosion and fire elementals will still work, which will create a kind of balance between mages and knights. To avoid making mages overpowered, magic could be prohibited when a cloak and counterspell are used.
Then, it still won't be possible to counter everything, for example, AoD. And leveling will occur, in addition, there will be battles where both heroes can die, in which case the economy will also be strengthened in some way, with someone pulling heroes out of the tavern, etc. Resistance also seems to increase immediately.
There are probably some omissions because not everything is well thought out. If you're interested, I can analyze it in more detail, although you can do it even better than me.
And I also don't like the overabundance of artifacts; sometimes, in the 3rd week, 2-3 artifact sets are collected. There are also too many different cons, so I would reduce the number by, say, 30-40%. Armies from castles are generally not needed after 121. Something like that.
P.S. Prohibit water magic for logistics heroes; Gunnar can't take it anyway, so it will be a kind of fix for logistics specialists. (Let a weakling with water run around and send Gunnar home; why not?)