Different view
The Sorcerer selection is likely to be raw power, at first. The traditional order is to take an offense, then defense, then versiltility. As such:
Offense:
-- Lightning Bolt, the better of the attack spells.
-- Fireball, if you commonly launch ambushes.
-- Haste, if the party chainsaws are numerous.
-- Vampiric Touch, if you have few healers or want flavor.
-- Summon Monster III, the most versitile of all.
Defense:
-- Dispel Magic, absolutely amazing.
-- Protection from Elements, if you commonly fight such.
-- Gust of Wind, knocks out flyers and gasses.
-- Slow, if you face many Hasting casters.
Versitility:
-- Magic Circle Against Evil, stops outsiders, cold.
-- Tongues, if you're the 'Face' of the group.
-- Major Image, always has use.
-- Fly, *the* movement spell.
For the Wizard, the criteria is different. You don't need it now and need it often, you need to be flexible. Let the Sorcer handle the blasting, while you handle things no one but a Mage can. As examples:
-- Stinking Cloud, for when you need them alive.
-- Clairvoyance, for knowledge is power.
-- Suggestion, for the soft touch.
-- Illusory Script, for when you do courrier plots.
-- Gaseous Form, because nobody else can.
-- Shrink Item, because, by golly, a pocket campfire gets used.
The Wizard, more than the sorcerer, can afford to be kind of floopy with his selection, as he gets more than the Sorcerer, and can always gather up scrolls. He's also MUCH more likely to pick up item creation feats, which can be used to 'Siphon' off from the Sorcerer.
If, for example, the Sorcerer takes Lightning Bolt, the Wizard can take Shrink Item, for planning ahead, and Clairvoyance, plus gets Craft Wand at 5th level for his Wizared feat. The two then work together to make the Wizard a Wand of Lightning Bolts (5th level) so that he, too, has offensive punch when needed.
This lets you, for example, store a spare set of armor for a fighter, with Shrink Item, look ahead when in danger with your memorized spells, with Clairvoyance, and still have blasting power, in the form of Lightning Bolt.
Heck, you can get him to help you scribe a scroll of Lightning Bolt, then canabalize it to learn the spell and write it into your own book, if you just *have* to have an attack spell.
The Sorcerer should next get Dispell Magic, while the Wizard gets more diverse action. Invisibility Sphere if you're a group that often needs stealth, for example, or Greater Magic Weapon, if you plan on enchanting down the road.
Just remember: The Mage does wild things, the sorcerer does the basics. Keep it that way, and you'll always be happy.
-- Cap!