Mana (Based on Character Level) bonuses are not as desirable as + Mana bonuses since they are added after Increase Maximum Mana %: Increase Maximum Mana 100% would double +100 Mana to increase maximum mana by 200, while +100 Mana (Based on Character Level) would only increase it by 100.
Mana displayed is rounded down to the nearest point but the smallest unit is actually 1/256 point, so even fractions of a mana point are added, even if they don't change the displayed value: +0.75 mana upon gaining a level will only alter the displayed value if the previous value omitted 0.25 mana or more.
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