[code]I intend to create a character who is a seasoned practitioner of the arcane arts. Should I concern myself with runic magic?[/code]

Up to you. Experienced mages do not require the use of runestones. However, they likely started as inexperienced mages casting with runestones, so they should have the knowledge.

[code]Is there a shelf life?[/code]

No. Once a runestone is created, it will retain the magical energy it has until it is used.

[code]Once consumed are they simply rocks to be discarded?[/code]

No. The runestones can be re-enchanted. The actual stone of the runestone is just a carrier though, and has no influence on what the final runestone will be.

[code]Is there way of distinguishing various types of runes from others that serve different purposes?[/code]

Yes, when created, the runestones have glowing magical glyphs on them that uniquely identify it. There may be undiscovered runes though.

[code]How many different types of runes are there?[/code]

Many, and we are open for players to submit their own idea for runes if they feel the current runes can not be used to cast a spell they desire. Not all of the runes are available at the start of the game though, this is intended to create some form of experience progression.

[code]What material is used to create a rune?[/code]
Any solid object.

[code]Are certain materials used for specific purposes?[/code]
Something to be pondered, I'll bounce ideas with Starlance and flesh this out.

[code]How does a rune guide a spell?[/code]
The rune does not guide the spell, the rune specifies [i]how[/i] the spell is guided. The runestones are pretty general in meaning, to the point that two different spells may require the exact same runes to be cast. It is up to the mage to use the guidance to form the intended spell.

[code]What exactly is the purpose of a modifier rune?[/code]
It enhances the rune following it in some way. For example, using a "degrade" rune will create a spell that will erode something for one round of posting. However, using a last rune along with it ("Last, degrade"), will extend the effect for another turn.

[code]How does that work and what sort of spells are cast upon the runes to make them enchanted for the purpose of creating spells? It almost sounds like we are casting spells upon runestones in order to create spells? Is that right?[/code]
One has to create a runestone by enchanting a vessel in a source of magic. The runestone can then be used to cast a spell. You can think of runes as the 'programming language' of magic. The mage uses the runes to 'code' a spell.

[code]What exactly is a modification rune?[/code]
Same as modifier rune.

[code]I assume the word Add in item 3 above is short for additional? Are they similar to modification runes?[/code]
Add is one of the modification runes. It is necessary to create a syntax that makes some sense. For our earlier example, say if you wanted to make the spell last another turn longer, you will have to use add rune between the two last runes (Last, add, last, degrade), because otherwise the first last rune would affect the next last rune next to it, rather than the action rune. You can think of it as using parentheses in math - (a+b)*c, versus a+b*c.

[code]I must assume that all spells require the basic four runes; action, object, target and guidance. If a caster has only three runes, what effect would that have on the spell?[/code]
The slot that has no rune present will be randomized by the GM when deciding the result of the spell.

[code]Item 5 implies that a caster MUST employ at least two runes to be successful. If that is true, how can a spell be cast with fewer than four?[/code]
This is a failure to communicate. It is meant to say that you can only omit one rune type of the required four, otherwise the spell does not work.

[code]Item 6 states a spell with no direction creates an omni-directional effect; much like a radio wave. Is the word direction in this statement used in place of guidance?[/code]
No, this reffers to a mage letting go of raw, unguided magical energy, I.E. similar to no rune being used.

[code]Regarding the public spellbook (excel), tab Runes, column C “Rune”, could you define each term listed? They might appear common as I thought they would, but some are different and may cause confusion.[/code]
Collumn C are merely the names of the individual runestone types.

[code]The Example Spells do help to understand. I assume you will include several more?[/code]
It would be better if you gave us an example of the spell you want to create, and we will post the runes necessary and explain the logic behind it.

[code]The word, “capacitous” is generally used in legal writings. I believe the word you intended is capacious? Meaning, “capable of containing a great deal?” I hope you forgive me for pointing this out. I don't mean to sound pedantic. The word, “Capacitous” caused some confusion.[/code]
YEah it is supposed to be what you said. We will revise this part along with the materials to create runestones out of.

[code]With my intention of using a more experienced mage, I do intend to write a spell book for my character. The book should contain each spell with the required runestones as well as the method for casting the spell with hand gestures, or some tool like a wand or staff and some somatic phrase. Some spells may be newer to the character and require the runes, while others have been in the book for decades and may not require that level of detail.[/code]

As an experienced mag,e your character will nto need runestones to cast. They will require a source fo magic though, which will also be tied ot the revised materials for runes.