All the new spells known are at 1st level.
Dirty, but not necessarily immedietly noticeable as powerful: Polymorph Any Object on a creature into itself. The creature permanantly loses all Extraordinary special qualities not derived from class levels.
No comments on the PAO use? I'm a little surprised.
Exactly what use is it? Most of those tend to be useful. Subtype might be a bitch on occasion, but that's about all I can think of.
Use it on foes and they lose any of their helpful qualities. Regeneration, Darkvision, annoying immunities, spell resistance, etc. Unlike other possible PAO forms, they won't necessarily realize that you actually did anything.
Or you can use it on someone in your group with an undesireable special quality (such as a Drow and their light blindness)
It does work. Alter Self specifically says that they lose all Extraordinary special attacks and qualities from race and don't gain those of the new race. Polymorph is "as alter self", but gives extraordinary special attacks of the new form. Polymorph is "as Polymorph", but still doesn't say that Extraordinary special qualities derived from race are kept and you still don't gain those of the new form.