[AlexH]

No they arn't.
Say I have cause light wounds and cause critical wounds.
New, harder monsters have been added so I use critical wounds.
However these monsters don't drop anything that is worth a lot of money so I can't make money from them.
Using critical wounds causes me say 15 grace a shot.
I want to make money so off I go to kill smoky's, hevil's etc.
I don't want to use critical because it uses up lots of grace but light uses up much less and still gets the job done so I would use it.

So in short you should keep all your spells.
Use the bind key when you get a lot.