Yeah, but if you are blowing through the lower level spells to feed, say, Extend or Empower (which will be at most 8 times a day), it is probably more cost effective to just carry around extra Pearls of Power or things along that nature (which are relatively cheap), than blowing a feat...
If if you are blowing through mid-level spells to feed things like Quicken...I think you'd still rather not break level 5 spells, down to level 4 + level 1, and end up with level one spell. You are *definitely* not breaking up level 8 spells for 2 level 4 spells, so the best case senario is breaking up level 5 and 6 spells and end up with...buncha *more* level 1 and 2 spells? I don't see that particularly useful.
I think, in general you'd be better off spending that feat for something else, especially something that helps *a lot* from level 1 up, like Invisible Spell or some such. (I believe Arcane Manupilation must be taken at level 1).
-K