I just thought I would point out, that if both the Optional rule of purchasing PP instead of a metamagic AND the Optional Rule of buying Metamagic for 15 Karma is in effect at the same time, the absolute maximum PP you could potentially achieve is still only Magic + Magic+ Initiate Grade, as you cannot buy more metamagics with that Optional Rule than your Magic score.
So, a Magic 8 Grade 2 Adept who spent 35 (Magic 7) and 40 (Magic

and 13 (Initiate 1) and 16 (Initiate 2) and 120 (Metamagic times

Karma could have 18 PP, with Power caps of 8, for the low, low price of 224 Karma. That isn't difficult at all, folks.
It balances fairly well until you add in Way of the Adept and Geasa, which can create some issues with certain high PP cost powers at high Ratings for low cost. If you use all the Optional Adept rules available, they can become quite powerful, but since they are so nerfed to begin with, it does not matter much. I can honestly say the most effective combat member of my party is a toss up betwen an elf adept swordsman and the troll street sam, and I use the Geasa plus Ways plus Additional PP plus buying metamagics rules together. The adept dodges better and has more armor, but the troll has more offense and almost as much defense.