
Belated update...
My delay of this project is mostly trying to come up with good ideas on how I would have to script the Rubicante+Eblan royalty battle. In part laziness is a huge factor... but once Edge's initial spell list came out... I tend to draw blanks and it is sucking major ass trying to recall what spells should go where.
So.. for your sake and mine, I'm going to list planned or already implemented spells in the list per person so I can actually get this going in the future (plus I will won't forget what I changed).
In chronological order of character appearance...
Rydia (young):
Learns "Magic Arrow" (Rod magic) and Poisona in White Magic list
Rosa:
Learns dummied out magic
Porom:
Learns dummied out magic and replace "Sight" with "Stone" (Sight is available in a different form, Stone is used for obvious reasons)
Tellah (Mt. Ordeals):
Pondering replacing Meteor with something like MegaFlare (monster spell)...
Replaced Reflect with Black Hole, also learns Death and somehow manages to learn Safe, Shell, and Dispel (he normally learns nothing and I had some difficulty adding these spells to the event spell addition list, so this is a safer method, he learns Scan, Sight, and Dispel though the learning list)
Replaced Meteor with Big Bang
Cecil (Paladin):
Will learn additional White Magic, including Holy (level 70), Safe, Shell, Berserk (I forget if I had added it), Haste, Cure3, Life1
Rosa:
Remember to replace Exit with HolyBeam (give her an offensive spell that unfortunately doesn't use Will Power)
Rydia (older):
Will replace level 2 elementals with CureAll (same as Cure Staff but powered by Rydia's Wisdom), Burst (same as twin magic, and useful in a different way), and DarkBlast (Mombomb's spell)
Adds Cure2 to Rydia's summon list (instead of the removed White Magic command)
Edge:
Will replace initial spell list with DarkBlast, HolyBeam (to replace Flame), Magic Knife, CureAll, Basuna, Black Hole
Will learn Flame, Flood, Blitz via levels (hopefully, will need to test, all ninja spells) and Rubicant event will add AcidStorm and WhirlWind (I originally thought of Big Bang and EvilFire, but those are too powerful and would require significant rebalancing)...
Will also learn many Black magic spells (assuming JCE's hack didn't involve any tweaks to the learning code), including Quake, Bio, Flare, and level 3 elementals
FuSoYa:
Remove Exit and replace with Black Hole
Remove level 1 elementals and replace with Magic Knife, DarkBlast, HolyBeam
Remove level 2 elementals and replace with Flame, Flood, Blitz (ninja versions)
Replace Venom with CureAll
Add dummied out White Magic spells
I think that's the complete list of changes... so I'll have to get to them ASAP.

Swapped a spell for FuSoYa
Verified spells for Cecil
Edited Tellah's list...
Again...
And again....

All changes are complete... so it's settled (and you won't have to delete the SRM in future patches since starting spells are set properly...)

Arg... I had forgotten something important. Changed ChokeSmoke spell selection to Magic Knife (Dancing Dagger)