(Primary creator of the above Rune Magic writeup) Hence the reason it can "emulate any Evocation or Thaumaturgy effect," if I could update the writeup in one way it might let you make the large scale wards (like Marcone's manor) without spending your slots. I don't think that would be a big change to the power, I know in my experience I don't see wards get used very much... Though I'm not quite sure how that would effect the creation of the Living Lightning ward/trap (in Small Favor).
Other changes I may consider would be a +1 bonus to crafting strength or frequency (or both) to reflect the imbued knowledge of how to create runes. Again, not quite sure how that might effect the base cost of the power. Of course some of these changes/updates might be covered by the minimum -3 cost of the power (since Evocation does not give a rebate).
Yeah, the fact she Wards large areas is why I'd say it is really just Thaumaturgy + Benefits. It uses a different system of thought than what Dresden was taught, of course, so the props are different. Of course, props literally are just props in the Dresdenverse. Honestly, I found the whole idea of her Rune Magic being sponsored a bit odd in itself. Thaumaturgy + Crafting Strength Specialization + 4-8 more Item Slots seems to get the job done that we see in the books just perfectly at 4 to 5 refresh. I do agree that we don't see any evidence of there being evocation though (beyond evocation via an enchanted item that works like a potion or a ward or the like).
Living Lightning Ward is just a complicated Thaumaturgical ward, really. Seems to be a one-shot trap with has the flavor of looking really cool. Honestly, we don't get much more than that from the description in the book. Now, admittedly, she doesn't show any sign of ever doing summoning or conjuring. It is possible she can and possible she can't. I suppose one could right it up as her just having Wards, Divination (huge lore for that culture so I think you have to leave it in), and enchanted items, with 16 or so slots, and +1 or +2 power at 4 or so refresh.
Now, one thing that is pretty cool is that she could easily make a powerful ward pretty quickly. If her enchanted item strength is 6 for instance, she can make runes that give her two maneuvers that she could then tag for a ritual. So let's say she is making a Living Lightning Ward. Let's say her Lore is 5, then she spends 4 slots in preparation for that. She could then spend half of her aspects on gathering power and half on the strength of the ritual, and gain +2 power each turn and a total complexity of 13 without ANY research. A little bit more work and she could easily get to complexity 20. Taking a bit more time and only uses aspects when necessary to not get backlash and she could pretty easily bump up that 13 to 17 or s without any research. Taking a whole day just to ward a place would easily let her make a 30 shift or greater ward. Someone like this can do a lot of powerful thaumaturgy without as much work as other characters.
Personally, my scholarly Son of Thor character just has Thaumaturgy and uses runes instead of potions.