A trip to PFSRD tells me that I confused Magus and Arcanist. The reason I didn't go with Mage is I made a class I called Mage before (it was intended as a lower powered spellcaster retaining versatility but more in line with a Beguiler or Dread Necromancer than a Wizard), that and it's a little too generic.
One reason I went with Reserve feats was, as r2d2go reasoned, to give them some endurance and regularity, another was that as a whole they are typically worse than metamagic feats and potentially even than Scribe Scroll.
I'm afraid to lower their spells per day too much further because it starts just running into problems with not having enough juice to go; although my original conception actually had them getting a slower spell progression and only ending up with 8th level spells at 20th.
The reserve feats are to make you not useless when avoiding using spells because a challenge is beneath the need for them, but same basic principle.
The problem with giving them more spells to start is that then they are a strictly better wizard at early levels. I thought about higher skill and hit points to give them a slight boost mostly at low levels (at high levels you end up needing those less and the impact of 21 hp tends to be less than the impact of 2 at Lv 1 as Con becomes a larger value).
Would making their save DCs be based off of one score and their bonus spells another help? It makes them less SAD which weakens them compared to a wizard, but archivists survive it (Favored Souls not so much, but Favored Souls have the problem of being generally worse than clerics), while also making you choose between spell slots and spell power at high levels (at low levels you'll get +1 spell slot most of the time regardless of choice). Maybe couple it with a HD size increase to make up for their likely lower Constitution?
I'd go with Spellshaper but there's one in the current base class challenge, I do like Channeler though.
What you recall is correct. The reserve feats serve to give you an option to make an impact on combat, albeit a small one, and conserve your spells for when they are needed while discouraging pure nova-ing of high level slots.
And yes, this was never intended for a core only environment. In Core only they would be like unto a god!
I've never browsed that forum before, the name rings vague bells but they're all related to Minsc and Boo, and I have only ever heard vague references to the Tome of Awesome. Honestly I'm not surprised it's been done before, and would be more surprised if it hadn't been; it's a pretty basic idea.
I gave them Advanced Learning mostly to give them some way to get non-Core spells, and I want to leave them a way to do that, though I am open to suggestions for alternative methods. And yes that is the intent, I'll think about reducing the former and increasing the latter, but I'm away from books at the moment and would want to go over the list again before giving them too many more if only because I haven't actually read over the list in... maybe a year? Maybe more. I always liked the idea and would take them on occasion, but it's been a while since I played a wizard (and as a dread necromancer I have little use for them).