All this talk of Mage:the Ascension has returned my thoughts to the abandoned project of making a stripped back version of Mage. I wanted it months ago, I basically wanted it when I saw the monster 700+ pages of the M20 edition, and now it seems that a few more people want it.
I suspect my original ideas of maintaining character stats, but playing with the underlying systems may prove unfeasible at this time. Instead, I'm seriously thinking of a FUBAR/Mage mash-up. This would use a quick customisable multi-template system to create characters, and a conversion system to adapt existing NPCs and starting characters in sourcebooks.
If it works, it'd be interesting to generate variants covering Werewolf and Vampire, and maybe a few other games in the World of Darkness.