Of the various Fate magic systems I've seen, this is my favorite. It's a good combination of ease of learning, ease of use, and flexibility. I like the discussion on setting difficulty levels. I like the concept of using a sequence of resolution mechanics (no roll needed, single roll, aspect needed to roll, challenge, contest, conflict, session, scenario, story arc) to decide how much effort is required for a given magical act. It's a good use of the Fate pacing toolbox. Nice touches include describing animated creatures and enchanted items in simple but usable ways.
High Fantasy Magic lists thirteen magical disciplines. They're a pretty good mix. You could easily add your own: a one-paragraph overview, maybe some typical stunts, and maybe some notes on the animated creatures and enchanted items the discipline would create.
I use it with Fate Accelerated. The three permission aspects in HFM tell you which approach goes with each. It's easy to see why those approaches were chosen (e.g. Clever if you learned magic through years of study), but I've stopped using that one-approach-fits-all-magic viewpoint. I'd rather encourage players to use a variety of approaches. When you're the wizard of the group (for example), using one approach for all your magic tends to turn you into a one-approach player. I'd rather see an air magician use Forceful to blow down a structure, Quick to fly like the wind, Sneaky to blow forest debris across the group's footprints, and so on. The permission aspect says how you acquired your magic, and that still matters, at least for roleplaying purposes. A wizard whose studies focused on air magic and a priest of the sky goddess are still two different things.
If I stuck with one approach per permission aspect, I'd expand it to six permission aspects to give each approach a shot at some magic.