I really don't think magic changes are great for the iron player base without some tweaks.
Some pain points are around wrath runes being very hard to acquire for irons, it's pretty slow from bossing or slow to kill rune dragons, or requires 95 runecrafting, one of the slowest skills in the game.
The other is around the harmonized nightmare staff. Nightmare with its current drop rates is just absolutely terrible in respecting the player's time. Honestly anything that makes nightmare uniques more important without addressing that is painful. I know irons chose to limit themselves, but part of the joy in that game mode is a smooth progression curve, wrath runes and nightmare heavily break that for magic. Currently strong early with fire strike to ibans to warped Sceptre to slayer grind for trident, then shadow, all of which feels pretty good. A 400 hour nightmare grind in there does not.