These are the rules I'm probably going to use for my own version of the game. Just wondering if anyone has done something similar or has additional input.
Read Magic: All spells are written in arcane script, which all mages can read. It takes one hour to read a scroll so that a mage can use it, and one week to read a spellbook.
Magic Item Creation: Mages can create potions and scrolls at first level, at a cost of 100 gp per spell level. These items take one day per spell level to create. Mages can create other magic items once they reach 5th level, at a cost of 1,000 gp per spell level or item bonus (a sword +1 costs 1,000 gp to make). These items take one week per spell level or item bonus to create.