Honestly, I was very Jazzed when I first saw the Sorc, less so when I tried playing one. All the pros/cons have been dealt with from a Player's Point of view.
from a DM's point of view, Sorcs are very cool badguys.
Let's face it, unless it's a recuring Villain that the DM has an 'escape door' for, most enemy mages will get blasted in one encounter.
The limited and reusable spells are just what an NPC heavy hitter need "What!?! He just threw a THIRD FIREBALL!?!?!?!? Gods!!!"
He also keeps PC Wizards from gathering a million spells in his collection from acquired Spellbooks.
I got rather tired of the Wizard in the group that I ran grinning from ear to ear at the 'spellbooks, oh, the spellbooks...'
I like there to be something fr the Wizards in the party to want and not immediately have 'What was THAT that he cast, I need that!' begin frantic Wizard researching....makes for a cool RPing hook.
I use certain spells from non WoTC sources as 'Wild magic', Sorcs can get them, but a Wizard has to find them/research them somewhere. Sure it may occur in those wacky dragon-blooded, but they didnt exactly take the time to write everything down for the 'Arcanally Challenged' Wizards.
Just my 2 CP worth
-Uriel