And that feature is the possibility to choose how much mana you want to expend on your spells and thus how much damage that spell does when you use it.
This could be used for other spells like raise land too, by increasing the AoE range for it.
For example in MoM when you got enough channeling you could cast some pretty devestating "lvl 1 spells" e.g fire bolt.
A suggestion is that perhaps essence should control how much mana you can channel instead of how much max mana you can have?
And then let the max mana increase each level up based on how much wisdom you have.