Reagents have their purposse. They are to make an easily atainable spell have a dificulty factor to it. Now if you are talking about reagents as in RC then yes that was a huge problem. Reagents should be restricted to certain spells and not to all spells.
Expect to see some reagents used in magic in all MMORPGs. Bat wings, feathers, eyeballs, and other items like fish scales have a stable foundation in magic. Think as far back to old stories about witches and wizzards. They always had jars of newt tounges and fish eyes.
I for one like reagents. Take a stack of bone chips and cast a spell to bring them to life. Take a feather and enchant it to enable you to teleport short distances in a hurry. Even take a set of bat wings and transmutate into a flying creature.
Along with reagents there are other possabilities for spell casting items. I like focal items like gems or crystals that increase the power of magic. One of my most memerable focal items is a crystal that was worn by a certain wizzard in Dragon Slayer. When the wizzard died, his aprentice, using the crystal, made people believe he was not just an aprentice but an actual wizard. That worked until his secret was discovered and his crystal taken away. Though others tried, they could not use the crystal. A focal item only increases the magic a person already has. It does not give a person magic ability.
Two things about magic I really enjoy.