I’m feeling a bit torn myself. I understand the thinking behind the vanilla rules; it helps balance out some of the spellcasters’ power, especially at higher levels. But my understanding of balance in 5e is that it’s to balance the players against each other, to avoid having 1 or 2 players be so clearly better at so much that it naturally pulls the limelight away from the rest of the party and causes people to lose interest their own character.
I think totally unrestricted spellcasting carries the potential for imbalance, but doesn’t guarantee that outcome, and if I’m not making my spellcasters manage their resources then I’m doing something wrong. Something like Matt Mercer’s house rule “spells of 2nd level or lower” would also be a good compromise because it allows the utility of things like Misty Step, or for a Gish to summon a shadow blade etc.
What do y’all do at your tables, and why?
I think the rule as is, is fine. Mercers change to allow up to 2nd level is also fine, but borders the balance scale.
Come to think of it, I could see myself implementing the following house rule: Up to level 8, only cantrips, up to level 14 you can do 1st levels too and after that you can use 2nd levels.