Yes, no, maybe...
Microspells and all that are usually a PITA. OTOH there's some crunchy fun to be had in making up new spells.
There's some satisfaction in cleverly having hung the right spells for an uncertain future, and some drama in being wrong.
Sorcery is such a big box of tricks that the limits -- 12 spells, time hanging and racking them and casting time for versatile ones --
barely brings the bang for the points down to 17 points. 17 points is that many Cantrips, not quite Invocation (much of which is slow, slow to use, and rightly so), over half of Wrighting, etc., and it works in combat time.
17 points is about right... if you ignore multiple racks and inter-world teleports to fast time worlds. Bought as items, that's a Deadly ranged weapon with N&N Alternate forms (lightning, fire, force...; might need Stamina too), Conferred Invulnerable Damage Resistance (maybe more than once, since you can use it on others), Conferred Instant (8 point?) Search Through Worlds, Conferred Instant Mold Gossamer Reality, Conferred Limited Extraordinary Psychic Sense.... 58 points+ and counting.
But if you increase the cost or lower the versatility people will whine.
Actually that is something I have felt myself, being frustrated with Sorcery as shown on both Amber and LoG&S. It is overly complex, tedious, and time consuming while all around not being very fun to use. Lynchpins, microspells, and other details increasing the time it takes to cast a spell even with racking while so severely limiting the number of spells prepared and how/where you can use it.
It feels like you have to unfairly jump through hoops just to use Sorcery while other powers are can get away with being less complex and easier to use yet also being more powerful... Because of this I am very glad to hear that you will be making an expansion/revision to Sorcery. I hope it leads to being a more fun power, or series of powers.