Crown cakes.

I have no idea what they were going for with ancient magic. Usually when something's screwed up you can at least follow the train of thought regarding intent. I heard you could layer 3 AM's together. If you could, that might create a role for AM being a good DPS cast during spiritbind. However, that's not true. I can't seem to layer them at all.

They're not good for battle regimens since they reduce the total number of regimens you can do in a fight, grossly overriding their benefit.

You CAN magic burst a regimen outside of regimens, which is a little known secret...but timing regimens to the activation of ancient magic...not going to happen.

You can cast two tier II spells in less time than it takes to cast one AM, for less MP, for more damage.

I'd like to hear the recording of the developer meeting where ancient magics were discussed to see what the heck was going through their minds. If we're missing something, it's something ridiculously obscure or horribly broken.