I have some interest in this. I have questions too, though. I'm sure some of this was being left open for others to flesh out or else might have been elaborated in the OOC, but I'd like to know just how powerful the sorcerers of this setting are. How does magic work, and how common is it?

In broader terms I'm trying to come to grasps with how you describe imagining this as a low/mid fantasy setting, when there's literal sorcerers, trolls, and the like running around. Am I correct in assuming magic would be quite rare and poorly understood, or at least mysterious, which is the distinction between this and what you'd call 'high fantasy'?