Seems like the thing to do is set a maximum point limit, say 300 for a fairly standard fantasy monster. From there you spend points on attributes and abilities. At least that’s the method I use (by the way, I follow the tier limitations given in chapter 2).
What I do for attack spells (like the two I’ve listed below) is to take the melee or ranged attack attribute and stack customized variables and restrictions. I take custom weapon variables from the weapon attribute and the rest from the customization chapter. So a basic attack spell, like a fireball or magic missile would look something like this:
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Fireball
Ranged attack (spell)
Level 3
Area: 4 (30 meters)
Duration: 2 (5 rounds)
Range: 3 (100 meters)
Continuing (fire)
Deplete 3 (-30 energy each shot)
Total cost: 11
Magic missile
Ranged attack (spell)
Level 1
Range 1 (10 meters)
Autofire (3 points )
Homing: 3
Deplete: 1 (-10 energy per use)
Total cost 9