Hi Kothas. Welcome to The Piazza.
I'm still trying to track down copies of both Magic and Mayhem and More Magic and Mayhem.
That is a nice bit of reverse-engineering you have done there. I wish I knew enough to be able to double check your logic. I would say go with it, until you can find other sources to compare against.
I wonder if the fan netbook Even More Magic and Mayhem has got those sort of rules. This netbook is essentially finished, bar some art, but I've not been able to get any feedback from the people doing the project. There is a thread about Even More Magic (and the other two netbooks they are working on) called [resource] Warcraft RPG fan netbooks
. When I can get some news from anyone on the netbook team, I'll post it over there.