Generally speaking I'm impressed with the new RQ (MRQ? Whatever!) rules. That said I am planning to stick with my hybrid RQ/MRQ/Elric/Homebrew for my recently started Borderlands campaign (mainly 'cos my players would lynch me if I changed things again).
Whether there is much to be gained depends on how you feel about RQ3. The new rules may speed up some aspects of RQ3 and reduce some of the processing time (mainly in lookups). This was my biggest bugbear with RQ3 and the reason I stopped running it (subsequently going through PendragonPass, HW, etc.) Meanwhile they still keep a broadly RQ feel and a fair degree of crunch (which was my intention with the hybrid). If however you are happy with RQ3, it may not be worth the upheaval.
With the magic? Yes, I think there would be a problem - the new system of integrating runes feels nice but is very different from Battle Magic (for example I think it would detract from the player's sense of their characters in my Borderlands campaign. It wouldn't feel like old RQ). Of course the Glorantha supplements aren't out yet and they promise details on other types of magic (i.e. Divine magic and Sorcery).
One possibility I've considered is simply bolting on RQ3 magic to MRQ. Both use % scales and characteristics in a 3-18 range. MRQ uses hit location though not general hit points. I reckon that it would be an easier prospect than for instance, bolting RQ3 magic onto Stormbringer (ok, maybe not by much though). This would allow me to use MRQ with the RQ2/3 material already available.
Alternatively I might keep the different system to use with the juicy-looking Second Age stuff coming out as a way of emphasising the difference from the Glorantha we're familiar with (rather like my Lunar HQ campaign feeling different from old RQ Pavis).
I seem to have rambled on a bit and come up with "depends..." Hope it of some help.
Cheers
Dave
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