I follow you better now, Dth. The dynamics you mention are pretty common to other groups I've seen. The self-amused spell cycler who gets bored when stuck with an unusable spell. The rumbling basher working the system purely for the win so that others ignore the game itself and have to do the same or be left behind. Etc.
And ya know... there's been very few games I've played or seen that create this atmosphere like Talisman... well, maybe an MTG mutliple battle (more than two combatants in a a game), but that's to be expected there. And of course any form of FPS video game.
You're rulings on Spells seem sound to me. I might suggest them to my own group. Spell cyclers are often more problem than any other personality type in the game: they annoy both the rumbling bashers, the hoarders and guaders, and even those who remember what the game's title implies. One issue I wonder about are characters who draw or fully replentish spells when they land on a certain space. I suppose just rule they grab their spells at the beginning of their next turn.