My brand of fantasy is completely devoid of the traditional notions of magic as ritual. Instead I see the fantastic as a meta-layer of existence beyond the real world.
No waving of enchanted wands but heightened perception. No magic objects, but a transformed and enhanced reality. No spells or chants, but the raw power of the human will to enact supernatural change upon the universal fabric. This is the kind of "magic" that fills Lords of Rainbow - elemental, organic, humanistic - an extension of reality.
Incidentally, the world is magical. Magic is simply what's off our human scale... at the moment.
