Yep, I'm going to go with a two way split, in the same way that the 'Legends of the Dark Ages' pdfs are divided, one for the magicky-types and another for everyone else. Chargen, skills, relevant feats, combat and equipment will be duplicated in both, along with world info tailored for each (your average Magyar mercenary wouldn't have a clue who the magical big boys are, but a Frankish seer certainly would, whereas an Irish monk probably wouldn't know much about a kingdom's troop quality or prominent mercenary bands).
Thanks for the input folks, any other ideas gratefully stolen.
I mean received.