For what it's worth, I'm with the See Invisibility over Glitterdust camp. This spell has saved my life. My sorcerer was the target of a hit by a well-equipped albeit low-level rogue in the middle of a street. Had it not been for See Invisibility, I would never have spotted him. Couldn't have done it with Glitterdust...
It is far better for you to see the creature; then you can do something about it (and a sorcerer should be able to do _something_ about any situation). If you really want the party to see it, get a couple scrolls of Glitterdust, and whip them out when necessary. The rest of the time, you're better off with See Invis (better range, duration, etc). Remember: the part about outlining invisible things has no saving throw.
For the original poster, some guidelines to creating a sorcerer's spell list:
Heed the advice on this thread. I won't repeat it all, but generally remember the stuff about spells that can be replaced by items/scrolls/wands or become redundant. Zhure, I think, was right on target.
Now, a good way to build a strong list is to sit down (with a few hours to burn) and read the entire list of summarized Sorcerer/Wizard spells (the one on page 168 of the PHB). Read the short descriptions of the spells, and if one sounds interesting, go read its entire description. As you do this, write down spells that are good at each level. When you get to the end of this, start cutting spells out. With a sorcerer, you want one spell for each situation at least, but no more is needed (what I aim for is to have at least one thing to do in every situation, then do it over and over again if there is nothing else).
Keep some buff/defensive spells, some offense, and a little utility in levels 1 and 2. For offensive spells, you'll want to keep an eye on saving throw types: you need at least one or two ways to hit fortitude, reflex and will saves, and some spells with no save at all (I recommend Enervation and Maze). Then just do the combos you like, see what lower/higher level versions of spells you want, (Haste vs Mass Haste, Dispel vs Greater Dispel, etc). When your list is done, you might want to post on the boards so people can see if it is lacking something and make suggestions.
Some good spells not to overlook:
Eyebite - this is a beauty. Will and Fort saves in a Transmutation (great school to Spell Focus IMO). Saves you Charm Monster, and you can Sleep at higher levels.
Ghostform - this spell from Tome and Blood seems tailor-made for sorcerers. One of the ultimate defense spells, only at level 5.
Clairaudience/Clairvoyance - see what's on the other side of the door without risking your head. Unfortunately, I never seem to have enough room for this spell. A pity, really, as it is wonderful.
Slow - not an area attack: you actually get to pick the targets. great vs a group of fighter-types
Wall of ______ - ever caster needs some sort of Wall spell. Personally, I favour Wall of Force
Illusions - take at least one, if possible a more powerful one. With a little imagination, it'll come in very handy
On the Fireball vs Lightning Bolt issue: I vote for LB, from personal experience. LB has variable-width, and a lot of times you can't cast FB. And really, how many times do you want to blast things at Long range? I usually like to see what it is, maybe try to reason with it...
Anyway, good luck, and have fun. Sorcerers are great!