I know there was errata and it's not important to my point. This is a bad metamagic feat just like that one was, not because it's too strong or too weak, but because it's fucking retarded. And it's too strong, but that's tangential to it's terribleness.
If you want to make a CL limit breaker feat, make it only apply to damage and cap it higher, don't remove the cap. Even raising the cap of Alter Self or Polymorph by 3 using the liberal interpretation of Reserves of Strength is so strong there is no reason not to take it. And using it on certain buff spells lets you totally remove yourself from the RNG.