Here's my opinion:
Whole idea of material components has always felt stupid to me since 1st edition D&D.
And sorcerers don't certainly use material components, unless it is ritual or something. Away that dragon casting of spider climb where I visualize dragon eating a live spider. Yeh, sure, do they have to eat giant spider, then, would make easier catch to something that big at least.
Whole idea for material component is nothing more, than relic of optional rule tradition and forced attempt to of game balace to spell casters.
Also, there are examples where equally powerful spells exist, and another of them wastes valuables and another not. Think temporal statis and imprisoment for example. Sure, you have to know something of person to use imprisoment, but so what, it's better spell anyway, cause it can't be simply dispelled.
I prefer wizards having more variation with 'right' components. Also, I like wizards using foci, like tattoos or rune stones, or such.
Sorcerers don't use components, unless they learned way to control their natural ability from some wizard's book, or had such teacher. Personal foci for sorcerer's are possible, as well as obsessive belief (though not true one), that their power is dependant on certain amulet they carry around or something like that.
Of course, if in your world sorcerers are just 'war wizards', they'd probably work just as wizards, except they had this special version of 'spell mastery' of their few 'known spells'.
Of course, WotC take on sorcerer is, that it's basicly just toned down wizard.
So, to make their existance as separate character class, they need to have some worthwhile different flavor.