Given that spell levels jump at multiples of 5 (ignoring lower-level spells), Ars Magica's stress die (let's ignore the simple die) is too small. There is only one spell level in which the die makes a difference.
Consider for example a magus with +20 to his spellcasting roll, who is attempting to cast a level X formulaic spell. If X = 20, the die doesn't matter: he will essentially always cast it without fatigue. If X = 25, the die matters: he has about 50/50 to cast it with and without fatigue. If X = 30, the die doesn't matter again: he will essentially always cast it with fatigue. If X = 35, the die doesn't matter again, as he will fail to cast the spell.
The chance to botch or to have the die explode changes the math slightly, but only slightly so I'll ignore that.
This problem is even worse for fatiguing spontaneous magic, where the die is divided by 2 so it sometimes, maybe, adds a single magnitude.
Contrast this with how the stress die works for Abilities, with a 3-point increment per difficulty step. Consider the magus with +3 to his Concentration, attempting a stress Concentration check with Ease Factor X. If X=3, he will essentially always succeed. If X=6, he will succeed on a roll of 3-9 so 70% of the time. And so on, so that the chances of success are approximately 100%, 70%, 40%, 10%, 0%. This is a nice, gradual, spread, that allows for SOME chance of failing and of succeeding across three difficulty steps. So there are tasks that are difficult but you have a good chance at (70%), and ones that are more difficult (40%) or even far-fetched but still possible (10%) – this is a good spread of chances-for-success to work with.
One solution to this issue is moving to Arts as Abilities, i.e. using the Abilities XP pyramid scale for Arts, but also to (magnitude x 3) for spell levels. Which leaves magi's power-level pretty much unchanged, but does suddenly offer more gradations in chances to cast the spell. But doing x3 math is much more difficult than doing x5 math.