I have a penchant for low magic and high gritThe magic system as is might just work fine for your group. Low magic is definitely
safer for PC's in RM.
The spell components thing was always a little token in D&D anyway; "you need to use components to cast spells but, buy this handy bag and you'll never have to mention it again".Actually, there are some pretty good rules for this in RM Essence Companion, but my players don't use them..
Have you encountered any major difficulties with the system/setting meld?Races and Adolescence skills were a little work, but not hard. I found it intriguing that kobolds in RM are smaller than halflings but don't have as severe Strength penalties.. so I changed some +/- around for most of the races, to have them more in line with GH.
I had to alter the spell system a little, again just to keep everything similar, but the players really dig it because they can actually cast the spells they know, but their power points are limited. "Do you cast that one big spell or all those lower level spells?" That is similar to GH.
The most work for me was Channeling. Clerics, Priests, Paladins, Knights of Veluna, Highforest, Furyondy (Hart), Rangers... yeah, Channeling took the most work.
Creatures aren't bad at all; most are in RM already!
The biggest difference is combat! D&D PC's have the hit points of a small European country.
RM PC's know that hits don't really matter. At all. Most fighters can heal their hits over night.
Criticals are the touchstone by which combat is judged. You may have to tone down combat from what you were used to in D&D. Or just roll up lots of back up characters.
I can pm you any info I have. But it sounds like you've a good handle on your game and how you want it to run. Cheers!