Having found this homebrew through The-Mage-King's looking for game thread I am deeply impressed at the level of sophistication found in it.

The amount of circles and classes for a fledgling homebrew magic-system is enormous and they all look very interesting nd seem to have their own niche.

I have to ask a question though since it came up when I made my spellshape champion.
The stipulation that the move-action meditation does not recover formulae used within the last 2 rounds seems, combined with the low number of prepared formulae for the class, greatly reduce his ability to recover in lower levels unless he only has one type of formula (either major or minor). With a mixed 4 prepared formulae, the champion would use all four within 2 rounds then have only normal actions for a round before being able to use the move action to only recover 2 formulae (as the other two are now still in the 2 round interval). As such, the champion can never recover ALL his formulae with one action unless he allows for 2 rounds of non-use between expending his last and recovering.

Compare this to the elemental adept who can recover ALL his formulae with a swift action, has an elemental companion, gets to ignore resistance and half immunities, gets immunity to poison, gets cha to damage, gets turning (with an extra option for more blasting), can get flight (if using air) and harder to resist formulae.

The Champion gets an increase in damage in the beginning (melee damage instead of the d6s) but basically has to go two handed to really get good use out of it later on (i know you can optimize melee damage to great heights, but I am talking about non-optimized use of the class). He still has to overcome SR if he channels the spellblasts, luckily this is made easier later on. I guess the "You otherwise attack with your weapon as normal" line means that if he fails to overcome SR he still gets to use standard damage, so thats at least something. Retaliatory shaping is circumstantial and further eats into the two round recovery delay. Other than that he gets some alleviation for heavier armor and a lot of stuff that makes people want to hit him, but very little direct defensive abilities.
He feels like a better aggro-drawer than the Crusader but without the delay damage option. Unoptimized I think he would die very quickly.

I haven't yet looked at the other classes much, but to me there seems to be quite a bit of distance between the usefulness of the Elemental Adept and the spellshape champion.