Furniture, absolutely!
In fact, addition to Volcanic, Rhys created a plugin for Blender that'll export sprites. (and started a few of us on learning Blender
)
I have no idea whether how large a task the new functions would be. The magic seems to be is combination of inventory items and a controller that tracks these things. But TSO's inventory works a bit differently than TS1 (ok very differently). I do not know if TS1 gifts, purchases, crop, ingredient, and skill tokens have a place in FreeSO. (I always figured I'd post and ask about the inventory differences when things settled down a bit) If not, then an entirely new system would need to be built in to keep track of magic skill and (in the case of the magic flowers) how much residual magic the lot has. That, of course, would be at the discretion of the developer and I think it is safe to say it'd be down the priorities list (probably by years.) Same thing with Fame though I believe TSO put a leaderboard in, didn't they (I was tiny lot so didn't really pay attention to that sorta stuff)? So who knows, perhaps there's some stuff that could be tapped into there (again, in future).
I LOVE Makin' Magic/Hocus Pokus/Spellbound. Love love love the magical stuff. Love. (In fact, the most Sims-fun I've had in ages was making a magic shop set with a couple of 'spell casting' cashiers and THAT was years ago.) But I honestly can't see how it would benefit the online community very much at the moment. Right now it is just a theme, like the Moroccan furnishings. Nothing wrong with themes, obviously, but to ask the developer to add a new system into FreeSO, I think we might need to come up with a more community-centric reason for the magic (above and beyond the fact that hotfooting people would be a fun alternative to piledriving
)