Originally Posted by Septimus
Currently there are 768 entries in the magic table, if we exclude spells that don't have a name (or a name that we can guess easily like Boost-STR) there are 587 spells listed, there are about 522 spells that players can cast. I wouldn't call this PS2 Limitations, this is a data-structure thing. When the game started they allocated a certain amount of space for each type of spell (White Magic, Black Magic, Bard Songs) and left some space for potential new spells. The problem is that they ran out of space so they had to start moving spells to new parts of the data list that were allocated for other spells, this is why RDMs noticed that tier II en-spells were below Black Magic in their spell list, because en-spell IIs were placed in some free spots after summoning magic.
I would imagine that if there is a PS2 limitation on the number of spells, it would be fairly large. There are 6143 entries in the armor table, and there is a lot more bits of data packed in each armor entry than in each line of magic. If they run out of spells, I am sure that they would be able to append more to the end after the Blue Magic spells without any problem.