So, I think it could work like this.
We have a set of runes - let's say - Elder Futhark
Every rune has a set of stat, belief, skill, health or stamina modifications, that is NOT visible to players.
So, for example, Uruz can give +5 to strength, -5 to intelligence, -5 to perception and +1 to nature.
When carved, every modification could be checked against a Rune Lore skill.
Depending on the check, the modification could be altered in any way.
So, the Rune modifier serves only as the base for determining the effects.
Players could be able to carve Rune Scripts or Bindrunes on almost anything (or anything?).
Runescript - a set of several run es carved one near the other.
Have a higher chance to wield the desired effect (the check against Rune Lore is easier), then the Bindrunes, but the alteration for every modifier on all runes in script is smaller. "The safer, but a less rewarding magic."
Bindrune - a set of several runes carved into one complex sign.
The opposite of Rune script - harder to get what you want, though, the rewards are better.
The carvings and their effects on items should be permanent.
All these things should have a lot of use, really - from making runed swords that could hit harder,
to carving bindrunes on constructions to make them stronger and decay slower.
A script, carved onto a claim pole can decrease sneak skill of a perpetrator, while he is walking on the claimed land.
And so on. It would compliment the "sandboxness" of H&H, not spoil the balance and definetely has no problems with the Germanic and Slavic setting of the game.
Could jorb and\or loftar comment on this and make me a happier person, please?
Edit: And using rune magic could be limited to, say, once per 24 hours online, just like with personal beliefs. Or 8 hours.