Ok, I think I have Speed and Healing figured out. Both are Hybrid effects.
Speed does three things for you.
1) You have a better chance of attacking and being Healed first
2) You gain a boost to both attack and defense when you go first (gaining 1/4 the difference of your Initiative and your opponent's initiative to both stats)
3) You occasionally gain an extra attack during a round where you win initiative
Healing now does two things for you.
1) You regenerate a number of hit points each round equal to your healing score
2) Your damage after the Attack/Defense rolls are done is reduced by some amount of your healing score (0 - (Score-1) ).
Neither of these stats is as powerful as Defense or Attack by itself. However, a mage with Speed and another boost or Healing and another boost can be more powerful then a mage with just boosts to Defense or Attack, since the Hybrid boosts compliment each other and Attack/Defense boosts quite well.
So, basically, a well-rounded mage can be more powerful then a mage that's just stacked in one stat and lacking in the others. Which I like.
Here are two examples, one for Speed and one for Healing.
Speed:
Wizard A has a speed of 10 and Wizard B has a speed of 12. Wizard A gets an initiative roll of 8 and Wizard B gets an initiative roll of 12.
Wizard B goes first, gets 4 points added to his speed buffer (when he reaches 10 he gets an extra attack), and gets a +1 to both Attack and Defense for this round.
Healing:
Wizard A has a healing score of 4. Each round he heals back 4 points of damage (up to his max). When he takes damage, his healing runes prevent 0-3 points of damage.
Overall, my tests show things to be fairly balanced. Certain combinations at certain levels will be better or worse, but considering how little information most players are working off of, I doubt gaming the system will really be possible with any reliability.