Essentially, there's a clear contradiction between the chargen chapter and the magic chapter, which says a gain in Magic always means a gain in Power Points. There's also the problem there are no rules about losing Power Points when you lose Magic, and it's unclear if this is unintentional. So it's incredibly wonky right now, and I can't make any balance statements until we get some proper errata out.
Also complicated by the fact that the Adept archetype seems to violate the "only get power points in character creation from Magic Priority pick Magic attribute" rule, as it has 5.5 power points worth of powers.
One alternate set of house rules (pending official errata/clarifications) could be as follows:
* specify a "training time" for learning new powers (powers are not currently listed in the Advancement Table on page 68, which either means you learn them immediately when you gain a Power Point in some fashion, or this was an oversight/mistake). For example, learning a power could take 1 month * power point cost.
* allow players to
earn power points for increasing their magic rating during character creation, but not
spend them. This is technically legal based on the rule on page 156 which says you can hold power points.
After play starts, the player can spend those additional power points by taking the appropriate training time. This is a kludgy way to try to honor both of the rules sections Michael mentions. I'm not saying its a great way to do it.