RuneScape's Great Magical Debate!

But you aren't storing magic in jewellery, you are enchanting the jewellery WITH magic.

then why doesn't the ring of duelling constantly teleport you to the duel arena?

I agree with 3mpty. It doesn't matter what termaniology you use, and that might be why you're misunderstanding each other. But Runecrafting is a resource gathering skill - you gather magic energies for use in spells and other forms of magic. This has nothing to do with magic itself. Being a miner doesn't make you any good at refining the ore, or smithing

Essence is a material capable of absorbing magical energies, otherwise it'd be very difficult to transport magic. You aren't using a ring to store magical energies in that sense - you've performed an enchantment to have the item perform specific abilities, it doesn't matter when they occur. The Amulet of Strength is always active, whilst the Ring of Duelling isn't - they may have been to begin with, but that was a problem wizards soon ironed out.

I think opinions on Magic are too varied. A third of players will always dislike it, a third of players will always like it... whilst the other third won't care either way. And by "always like/dislike it" mean there will always be a third that like it, but the third that like it will always like it.

There's also the people that think it's overpowered, those who think it's underpowered, those who think it's equal...

I think most people can see what others would find overpowered or underpowered about it. I think some of the problem is that players do not see Magic as a class, more a support skill - as only Ranged and Melee can FULLY support being a standalone class. This makes some players weary as they don't want hybrididng. However... this isn't Magic's problem... stop the hybridding.