Quote Originally Posted by diplomancer View Post
The "squirrel loophole" gives you 3 advantages:

1- you can get the slot back on a Short Rest... which many people say, and I agree with them, that this is possibly what could keep Hex relevant over higher level, if it does.
2- you can apply Hex later and still cast a leveled spell in the same turn
3- you can subtly apply Hex to your foes afterwards.

Of these 3 advantages, I'd say the first will usually be the most relevant, the second will be relevant frequently but not make much difference either way, and the third will usually not make any difference- but when it DOES make any difference, it can be pivotal. And requiring components would only deal with advantage 3, not advantages 1 or 2, so the "squirrel loophole" would carry on nevertheless.
My components ruling is only trying to address part 3. 1 and 2 I am fine with. 3 is potentially the problematic one. It may not have a lot use in combat (which is why the spell is likely silent on it), but it can be quite powerful outside of it. Too powerful for a level 1 spell.