Ok, so I quite like the concept of an adept, and I think it could make for some interesting roleplaying opportunities, but the little power gamer in me is convinced that it's not worth it, as any augmented character could easily become superior. Here's my logic:
So for any adept worth his salt, you'll probably be wanting a 6 in magic, to get the maximum amount of power points possible, which costs 65 bp. If you plan on fully kiting an augmented character, you most likely want all the nuyen you can get at character creation, so you'll be wanting the born rich quality (10bp) along with a full 60 bp spent on equipment (for a total of 70 bp). Keeping in mind that the adept will have to buy equipment too, and I've never had a character spend less than 5 bp on gear, this will put them at least even on the bp front.
Now lets use the adept and augmented characters and see which could make the more powerful martial artist, as a comparison.
Now, consider what the adept can get:
-Improved Reflexes (2.5)
-Killing hands (0.5)
-Critical Strike (0.75)
-Increase Physical Attribute - AGI (1.5)
-Attribute Boost STR (0.75)
-Mystic Armor (0.5)
So their bonuses come out to:
-+2 REA
-+2 Initiative Passes
-Unarmed attack damage = (STR/2+3)P
-+2 AGI
-(Average Rolls on attribute boost) +3 STR
- +1/+1 armor
Ok, now the cyber character can easily get within his budget (cost of items here: 234,000):
-Wired Reflexes 2, Alpha
-Muscle Toner 2
-Muscle Augmentation 2
-Bone Density Augmentation 4
-Orthoskin 1
-Adrenalin Pump 2
And this puts their bonuses at-
-+2(+4 with AP) REA*
-+2 Initiative Passes
-Unarmed attack damage = (STR/2+3)P
-+2(+4 with AP) AGI
-+2(+4 with AP) STR
-+2 WIL with AP
- +1/+1 armor
*Not sure if that one stacks
So they are very close to matched. The problem is for the adept to improve, at all, he needs karma, at least 43 (35 for increasing an attribute to 7, 8 as cost for initiation, required to raise the magic attribute (and that's
with the possible -40% cost for both group initiation and having performed an ordeal). So it's likely going to be between 4 and 8 missions (depending on how gm awards karma) before the adept can improve bugger all.
On the other hand, the augmented character has only used 4.95 essence (or 4.275 if they decide to get Type O system (30 bp positive quality) and drop the born rich, which would also give more bp at character creation), and all they need to improve is money. For example, for 15,000, an average earn from one or two early runs, they could improve both muscle toner and augmentation by 1. If they were planning to raise that all the way, they could not take the adrenalin boost (as it's superfluous at that point do to limitations on augmented attributes and uses a lot of essence) in favor of more orthoskin, or a more exotic implant. They get a LOT more options. Also, seeing as implants cost no karma, they can actually spend some increasing their skills, or other attributes.
To conclude, I see a lot of cool potential in adepts, they do have lots of good unique powers that could compliment a lot of character builds, but their problem as I see it is that the amount of power points you have to spend, along with all the limitations placed on magical characters and their advancement, means you'll either have to waste most of your points on implant equivalents, or be slightly underpowered in order to get the flavor powers you wanted. I hope someone can show me a better way around this, because I would really like to play an adept (maybe a pistol adept).

Cheers!
-TheCommanders