That is true, but my mistake was in assuming that it also made them Magick Level (MKL) 2 also, and increasing the success bonus as well as the experience points earned, during the rest of the time learning the spell.
MKL is linked to the Concentration Level rather than directly to Experience Points. The formula is (Intelligence + Unfactored Second Requisite)/10 + (Experience Points)/10. For Mordacis, that is
(21+ 11 [Bardic Voice for a Power Word Magician])/10 + XP/10, starting with a very respectable Concentration Level of 4.2, he will need 8000 XP to reach a CL of 5 and become MKL 2.
Rerunning the Spell Learning calculations, it takes him 282 days and he earns 5429 XP while learning "Dispel Fatigue", that raises him to 3rd Level (but still only MKL 1).
At 3rd Level as a Non-Fighter, he adds +2 to his body, his Fatigue goes from 1d6+1, to 2d6 (but he only rolled a total of 5) and he adds 2 to his Personal Combat Factor. He also adds two points to his Basic Influence Factor as he increased in level., and his CL improves to 4.7.
He has also learned 20 Language Points based on his 21 IQ (Saurians, pg 112).
Born William, son of Edmund, a journeyman dyer in the Clothiers Guild.
He is a well aspected Pisces. He lost his family at age 13 when his father’s
experiments with a new mordant released a poisonous gas and left William with
a weak chest (CON 3). William took the 130 silver his father had saved and
apprenticed himself to a local magick user. He has since adopted the nom de
magick of Mordacis, as an homage to his father’s profession.
While many of the Magical Modes would have benefited from his high
Dexterity (Alchemist, Artificer), Intelligence (Cabala/Symbolist) or Wisdom
(Diviner, Necromancer), the Fates have declared that he practice as a
Power Word Magician despite having only an average Bardic Voice.