I'll actually start on this system, because it's caught my fancy.
Rune Level: Number of Runic Feats, plus or minus any modifiers. Maybe Wisdom or Charisma?
Meaning: Summary of what the rune means, no mechanical effect.
Base effect: Effect of the rune if used individually, which takes a move action and requires a touch to use on an ally.
Fehu
Meaning: Social Success, Financial Income, Possessions
Base Effect: +1/Rune Level to social skills (Gather Information, Diplomacy, Intimidate, Bluff) for 1 minute/Rune Level.
Uruz
Meaning: Physical Strength, Speed and Potency, Action, Energy
Base Effect: +1/Rune Level to grapple checks for 1 minute/Rune Level.
Thurisaz
Meaning: Reactive Force, Conflict, Cleansing, Fire
Base Effect: +1/Rune Level to melee damage rolls for 1 round/Rune Level
Ansuz
Meaning: Understanding, Communication, Truth
Base Effect: Forces target to make a will save (DC 10 + scribes Rune Level) or answer truthfully to a single yes/no question.
Raidho
Meaning: Travel, Rhythm, Dance of Life.
Base Effect: +5 feet/ Rune Level to movement speed for 1 min/Rune level.
Kenaz
Meaning: Vision, Knowledge, Revelation
Base Effect: Use Detect Magic as a caster of your Rune Level.
Gebo
Meaning: Gifts, Balances, Exchanges
Base Effect: Each enemy that damages you in melee combat takes 1 damage/Rune level. This effect lasts 1 round/Rune level
Wunjo
Meaning: Joy, Comfort, Harmony
Base Effect: +1/Rune level on a single save versus a pain-based effect. This is an immediate action. You must declare your use of this ability before rolling.