For what it's worth, I'll say I strongly dislike this limitation. A magus is already penalized enough when fast-casting, so removing the limitation would not unbalance the game.
On the other hand, removing it makes the rules simpler, and easier to adjudicate, particularly when dealing with obscure options in supplements: for example, it seems that fast-casting is impossible with Holy Magic, because it does not use standard words or gestures (RoP:D, p.67), and it's at least questionable whether it's possible when using Greek or Adamic (see AM,p.29, and SE, p.29).
Removing the limitation also allows some interesting, dramatic scenes that would otherwise be impossible. For example, it is "aesthetically appropriate" that a really powerful mage might scornfully fast-cast a defense without words or gestures. And I can say that a desperate magus fast-casting in anger or desperation the biggest effect he can manage, shouting and flinging three rooks of vis in the process (note that vis-use is a spellcasting option) proved a very satisfying climax or cliffhanger in sagas based on previous editions, where it was explicitly allowed.