Not that the combat casted spells are the big problem with spell abuses. It's the planar binds and polymorphs that are used long before a fight anyway.
Hence the wasted spell slots from failure, as opposed to lower CL.
It still doesn't matter. Planar Binding and stuff like it you tend to take your own sweet time casting and setting up for a long term benefit. You just buggered combat magic without making them weaker in the broken sense, while they do become weaker in the playable everyday sense.
To be honest, if the DM is leting the players afford weeks/months of free time (how much it would take to get "safe" bindings summons with this system), then the campaign is going to break anyway.
Tough enemy ahead? I'll shoot an arrow, then run and hide untill it de-aggros, repeat untill it drops!
Dungeon crawling? I'll just take my time digging around trough the walls to evade all the nasty traps!
Short on money? Well, I'll just use profession for the next years!
Time itself is a resource. Planar binding would stop being abusive if the time it takes to properly set up is long enough for it to be only used as a last-resort effort. The rest of the campaign world doesn't stop just because the players decided to shut themselves in some hideout preparing some master plan.
Plus, you never hear in fiction "And the mage finished the binding in 10 minutes". You hear "And the mage spent months preparing the right circumstances, collecting the right ingredients, in order to do the biding". But well, during those months other mages will be considerably higher level, and the orc army will have raided the country, and the BBEG will have pulled his master plan. And then you still have 5% chance of all your efforts having been for naught.