Basically, it's what the client is capable of supporting, but not necessarily what's currently supported. Remember, they attempt to maintain compatibility across multiple clients. The earliest supported client probably only has 480 spell slots (60 pages) in their spell book. If they were to push additional slots to that client there would be an overflow issue.
I'm currently running around with 720 spells memorized on the RoF2 client. Anyway, everything aside you really shouldn't need more than 480 spell slots.
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