I've forgotten Stupidity so many times! I guess that my Cold One Riders aren't the only ones to suffer from it... >.> Interesting to see so many different opinions! Glad to see that quite a few of them reflect my own playstyle.
One last question: is it customary to reveal which spells you've drawn? I always do, but wasn't sure of a consensus.
I have never heard of anyone keeping the spells secret. I don't have the rulebook in front of me, but I'm pretty sure that spells available is public knowledge. I could be wrong, but I think that keeping spells known a secret would make magic even more unfair. How are you supposed to know what spells are a priority to dispel? What keeps people from mysteriously having the exact spells they want each time?
Spells are generated openly. There is no provision in the rules to indicate that this would be secret.
But of course, this applis to the list itself. Witout a full list, you can't know if people haven't taken too many points of magic items, have enough core, etc. You always have to assume people don't show up to cheat, but to play a fun game. Some people don't, and my local group fixes that by having a "judge" make a quick review of each list, observe all the rolls, etc, before the game starts. I've only once met someone who wanted to keep spell gen hidden though. He had spent all day talking about a spell combo that makes his strategy perfect, and he happened to rolls those 2 exact spells on his level 2 wizard, which no one saw. Even if he did roll it, it just causes unnecessary doubt and distrust. No reason to not just roll in the open.