I have been thinking about this since the last session and it really doesn't sit well with me that we can only cast 4th and 5th level spells once. In effect you have taken away three character levels from the spell casters. You want to take away my equipment that is fine, but now all of the spell casters are handcuffed with fewer resources while the melee characters have nothing mitigating their damage output. A CR-9 Creature is going to put out an average of 40-50 damage per round with +6-7 to hit and average save DC of 15, That is 2 rounds to knock a Character unconscious. With only 2 healing classes who are now handicapped, in a party of 8-9 players, it isn't going to take long for attrition, to catch up with us and have a character meet their end.