If you look a little bit down in this very forum, you'll see a thread called something like "Core class compilation thread" or something like that, in which is posted, I think, exactly what you are looking for.
I will start off the festivities with this.
The PDF version of the Lineage Sorcerer work-in-progress to date is located at:
http://home.rochester.rr.com/khaalisrealm/
Discussed at:
http://www.enworld.org/forums/showthread.php?t=82388
I have MANY other classes and PHB Variants that I may post in time.
I followed the devolpment of this sorc variant very closely. It started out with the same complaint you just made, and then fixes it. Perfectly. I'm about to play as a 5th level Magical Family Lineage Sorcerer with a specialization in Abjuration, although Child of Fire Lineage was looking pretty nice.
Basically, you can think of the Lineage Sorc. Variant as borrowing the domain concept from priests. There's a basic flow that all sorcs follow, but depending on the lineage, what you get is very different. It's all full of quite a bit of flavor. Additionally, the power level of the class is raised -slightly- in order to compensate for its weaknesses better. Anyone who's played enough will be able to notice that the sorcerer just doesn't cut it compared to other classes... and in fact, most people who know the rules well only take a few levels in the SRD sorc in order to fufill PrC requirements, like for Dragon Disciple or whatever.
This varient adds incentive to go all the way to lvl20 as a sorc. It makes being a sorc more useful, more survivable, and most importantly, more interesting. I mean, it's just GUSHING with flavor, and the way they work is instantly distinguishable from wizards at a glance. Just starting with being able to eschew material components for free for components under 1gp, and being able to burn XP instead of materials for more expensive spells does that, but then you add in eminating a magical aura if someone casts detect magic on you, slowly gaining a spell-like ability or two, and the lineage benefits... and at level 20 transforming yourself into something else, like an outsider or a dragonic humanoid or an elemental or something...
Well, as you can see, I'm quite happy with this varient, and use it in place of the original in my games.