Oh, absolutely, Reaver. I myself pointed that out in the post above that that was my interpretation and not one that's shared by everyone.
Yeah, the Magic to 0 and up to 1 or 2 with Karma isn't particularly cheesy on most characters. Magic 1 or 2 isn't particularly useful, and you're giving up a couple points of edge for the Priority, passing up on at least one Essence worth of Augments, as well as throwing a few Karma at it. And its usually more fluff than useful.
I'm sure there are some niche exploits that can be done, but the net result is usually a lot of resources for a mechanically so-so character hook.
I think about the most abusive thing you could do would be stacking the Way of the Burn Out and Biocompatibility you can to get around 8 essence worth of 'ware and a random Physical Adept power or Magic group at a low dice pool. Uh... Kamikaze fueled Cybor deth machine with Detox ftw I guess? 'bout the most potentially abusive thing I can come up with. YMMV.