Vancian magic

>spell research is wizards boxing without magic, first one to get knocked out gets observed by the other in hopes of developing new useful spells

Pretty sure you just described Detroit

Honestly, Vancian Magic really should just be how it's done in Elona- Percentage based for the spells you learn with disintegrating spells in books/scrolls and doen via concentration and payoff of MP or HP when low, failing resulting in perils of the warp shit.