I've been thinking about the One Power in RJ's universe for a while now, and I've come up with this theory about how the system works. It's got some loose ends in it, but I don't think any holes. What do you think?

Originally I was responding to a thread about Rand's scene at the end of AMoL with his pipe, to set the context:

Rand lights the pipe with Thought, which is the same power the Creator uses/used to create his worlds. The thing about Thought is that it's affected by the thoughts of everyone around you, forming a consensus reality. You have to have a really, really strong will to overcome the unconsciously maintained consensus reality of all other humans (or at least everyone in your immediate area) and cause things to happen. This is how ta'veren might work in the first place.
The One Power, and saidin and saidar, are really just an abstraction over Thought, which is really the fundamental power of the universe. The Creator has it easy creating his worlds, all he has to do is exist before anything else does (granted, that's the trick). With no competing wills, he merely sculpts whatever he wants, and then as Lews Therin has said, leaves the world, his "garden" to its own devices to flourish as it will.

Rand has become perfectly enlightened through his trials, struggles, and ultimately the Last Battle and the realization that Evil must exist. Through his enlightenment, he's managed to see that the True Source really is Thought (or Will, I suppose?) and that saidin/saidar are merely abstractions that allow channelers a visual/conceptual "interface" to the power of the Creator, as most (all but Rand and the Creator, probably) are not enlightened enough to not only realize, but truly believe and internalize the fundamental truth that Thought/Will control the world (and that your will must compete with the will/thought of others). The weaves allow a consensus interface to the power that causes all channelers (those strong willed or enlightened enough) in the area to "agree" on what's happening, forming a consensus reality in which that rod of balefire is produced, or that gateway, or whatever.

Granted, there are some loose ends with this theory, but I was working on a similar concept in a novel of my own and eventually realized that RJ was probably already going there.

Perrin is already sort of coming into this himself by the end of the series, but he ties his abilities to Tel'aran'rhiod. If he becomes more enlightened, he may realize that his powers work in the waking world, too. He tries to summon his hammer and fails in the waking world, but unconsciously he knows he's in the waking world even though he "realizes" it after the fact. I think RJ/Sanderson may have been hinting that this limitation is artificial/temporary.

I also wonder whether this enlightenment is tied to the "Song" of the Tinkers, as RJ/Brandon have said that the "Song" is more conceptual/enlightenment based than any actual melody, similar to how the "remnant of a remnant" of the Aiel has more to do with their dramatically changed and changing purpose/culture than their population numbers.