I would like to just name a couple hard points that I have in mind on the subject, since others have the discussion part down pat:
-I like the attribute system idea. I would however like to request that the skills/abilities as we know them each remain - and that we can still manually level them up.
For the levelling system, I would like to defer to a diamond-in-the-rough in the world of gaming: The levelling system in Mount and Blade Warband. Each attribute affects what you do in a passive, small way, that can make a difference in the long run. However, to really bring out the power of that merit, one must level up skills as well as attributes; the skills and the attributes collaborate to make a powerful character.
The skills as we know them, I think should still be levelled up using Juice Fountains