At first I was very skeptical about this one, as it lost so much of what made '74 rules so special to me. No hirelings, no clerics, no level titles, shift to a point-crawl and slot-based encumbrance.
But if I look at FMC Basic as its own being, unrelated to FMC, I actually really like it. Unlike many light-rules retro clones, it actually has guidelines on dungeon stocking and wilderness! I like how every class has a unique stat, it makes hacking the game so much easier.
The rules are still rough around the corners. Some spells refer to hit dice, some spells lack duration, basic roll is easy to miss.
Otherwise, great job! Hope to see FMC Expert some day.