Honestly, I see nothing wrong with having physical level, I just think they made it way too fast to advance. There's 14 or so classes in the game, each with their own independent rank/skill points. Just getting one of them up to rank 50 puts your physical level pretty close to cap. It would've been more interesting if physical level took a loooong time to cap, thus making leveling other classes just as fulfilling.

Well, the point allotment stuff is a bit much also, making attribute bonuses from gear less rewarding.