Runesmith SLAs bypass EXP on subsequent casting?

[Carth]

Permanent Rune (Ex):A 5th-level runesmith knows the secret of inscribing a permanent rune of a single chosen spell into his flesh. To inscribe a permanent rune, a runesmith must permanently sacrifi ce an arcane spell slot of one level higher than the spell to be inscribed as a permanent rune, and spend 24 hours inscribing the rune. If the spell has a costly material component, he must expend resources equal to 20 times the gp cost of the material component. If it has a costly focus, he must expend resources equal to the cost of the focus. If the spell has an XP cost, he must spend XP as if he had cast the spell normally.

Once he has inscribed a spell as a permanent rune, a runesmith can activate the chosen spell as a spell-like ability (using his arcane caster level as the caster level) twice per day.

The way I'm reading that, only the initial crafting requires EXP, and subsequent castings wouldn't, per the rules of SLAs. Though there are obvious abuses, this is great for inane stuff like alter fortune. But am I reading it right?

[Phelix-Mu]

Looks right to me, but I will defer to others. Runesmith is actually a pretty nice PrC, all things considered, and is a nice way to manage the spell-slinger in full plate archetype in a game that sometimes makes that a bit difficult to realize.

[Madara]

Yup, that's how it works. I used it for my Necromancer awhile back. Its got a few restrictions making it harder to get into, and you usually lose a caster level to get into the class, but that's the reward.

[Carth]

Here's another interesting thing, I think. There's nothing stopping you from making metamagicked spells into SLAs, is there?

[Phelix-Mu]

I'm no expert, but I don't think that's how it works. You are copying a spell. Any metamagic applied to a spell alters the spell's parameters, but the spell is still just the spell. "Maximized fireball" can't be copied because it's not the name of a spell (even if it appears in the list of "spells prepared").