I am just started a pseudo low level campaign. The intention is for the characters to reach that 75+75 level in a high magic world, but I wanted them to start smaller so I set the starting at 25+75, and so far I am really pleased with the results. I still get all those disadvantages out of them, but they are not too large.
One of the games that I played in that was an absolute FAVORITE of all the players, was a superheroes game we called "Survivor" (Long before the TV Show!). The players started at 0+25. Very normal people that were then changed, mutated, infected or whatever made sense for the campaign. But then they were being Hunted or in an incredibly dangerous environment. In one game, the players were all transported by aliens to a jungle planet. Here is the fun part. Not only did we get XP, but every day (in the game) we survived we got 1 character pt, and at specified intervels we could buy more disads. It was a blast, and let me tell you these characters could almost beat more then twice thier points in a fight. Why? They had learned how to get out of their powers as much as could be done. They were inventive and knew everything they could do with their powers inside and out.