With the making of any new RPG, if that's what we are talking about, it almost seems better if they have gutted the classic spells (e.g., fireball, magic missile, etc.) and almost completely removed them or changed them.
Yeah it is cool to have all of the call backs to the older games that you have played, and that can still be seen in the idea behind some of the spells.
However, if you are looking for a magic oriented game and the spells don't behave in a different way, have a different effect, or do anything different, then that sounds like you would much rather just play the game that all of the "classics" come from. Part of playing a new game is experiencing the new mechanics and everything the game has to offer. If a player is looking for the same game with a slightly different skin, it is better to just homebrew something up.