I get the idea of binding magic to weapons, but it really makes playing a magickian feel bad. I'd much prefer magic being something that you work towards. Tools could still have their own unique 'enchantments' that cause an affect specific for that tool. Axe - Splitting skulls (headshot damage), lumberjack ( more wood/faster wood), etc.
A radial wheel where I can select spells freely to use without having to pull out a specific weapon. or at the least a weapon designed for magic, that can hold much more spells.
It just doesn't feel magical to pull out a pickaxe and cast a fireball from it.
Agreed with the commenter, we have lore reasons why magic works the way it works. I also know they intend to add more tools/weapons like wands so can hope those will hold more.
I don't think we'll ever use magic an sich, it'll also be via tools since that's what the gaslamp genre is about. Think instead of steampunk where victorian age goes robotics revolution it's victorian age goes magical revolution viaa tools/machines.
I'd suggest using knife or scythe for fireball btw
Interesting thought, although according to the game lore, humans are basically beginners at magick and are only capable of rudimentary enchantments unlike creatures like the Fae. I would like to see this though, but probably far down the line where humans understanding or in particularly you the MC have become something more than human.