The idea is to use Reasearch and Read the Runes to sac the Plans and Wellsprings for mass CA at low mana cost. Read the runes and hatching plans leave stroke and such cards in the dust.
I think you're neglecting the mana cost of Wellsprings and Plans. Research+Wellspring costs you

and nets you +2 CA. Research+Plans costs

for +3 CA. Runes either nets you less CA or costs more mana. That's not a spectacular improvement over Concentrate, and far from what most would consider "low cost". When you consider that the latter isn't dependent on having two cards together at once, that gain is further diminished.
I suspect that the clunkiness of such an engine far outweights the benefits, and isn't realistically feasible as a replacement for BS+Ponder+Preordain. The incredible mana efficiency of the old package seems to have proven itself time and time again, even bearing in mind the trade of true CA for virtual.