Disclaimer: I stress being versatile, with multiple attack options. This is not the only approach! Now, having said that ...
Sorcerers are a hybrid that have access to both the Spirit and Elemental circles. You will not be as good with spirit spells as a cleric, or as good with elemental spells as a wizard. Your advantage comes from having access to both Circles. To succeed you must plan your character out carefully for at least the first 20 levels. Take advantage of your versatility, it is your main strength.
Realize that your skills cost more development points than for other spell users. To compensate, you need to get as many developmental points as you can, especially mental points. Of the ten numbers rolled, the first three are weighted to be above 60, and the last is completely random. Keep rolling until you get at least one number over 90, and the other three over 75. Preferably, you'd like one in the high 90's, one at or slightly below 90, and the rest over 80. If possible (time and money permitting), also try not to get anything in the 20's on the remaining rolls. This may take about an hour of rolling, I'm not certain on the time as since AOL won't show you the complete number list at once, it is faster to generate numbers on GEnie (which does show the entire number list at once).
Different stats are used to calculate mental and physical development points. However, the Discipline and aura are used to calculate both. Therefore you want to place that high 90's roll into Discipline, and that 90 roll into aura. Aura is used for mana, so we want this very high. Sorcerers get +10 to both aura and wisdom, so it is a waste to put in a number over 90 into either. This approach helps insure you the highest possible number of development points and mana.
As to were to place the other rolls, here is were it gets harder. You have to take into consideration your characters race (and the racial modifiers) and how you intend to role-play.
Basically, you have a bit of a dilemma. Sorcerer spells tend to use more mana, and miss more often, than their wizard counterparts. You will be relying on your sword arm for as many as your first 30 levels, far longer than wizards. It is therefore tempting to place high numbers into your physical stats, like strength. However, as you age, the physical becomes much less important - and you find out that you really would have rather placed those higher rolls into your mental areas were you need them when your older. This is something everyone must decide for themselves.
I suggest trying to make do with as low a physical stat as you feel comfortable with. Plan for the long term and realize that your first 20 years will be tough going. Remember that racial modifiers seem to affect stat increase rates. i.e. if a race gets a bonus in the stat it seem to go up quicker, if it gets a penalty it seems to go up slower.
Generally though, Dexterity affects your ability to hit with elemental spells. I favor placing a number over 50 here, preferable as high as you can spare! Sorcerer's eventually learn the equivalent of a "fireball" on the minor spirit list which will benefit from this stat. This adds an extra dimension to the class. Logic and Intelligence affect how much experience your mind can absorb and how fast it gets absorbed. Sorcerers, historically, are lousy experience earners - so these are good places to dump those low numbers. Wisdom and Aura used to be averaged together to calculate mana points under the previous magic system, which is why most older sorcerers have a high wisdom. The new system (which your playing) uses only aura when determining how much mana you currently have. Therefore there currently isn't much need for a high Wisdom (this may change). Reflex influences your physical defenses, so try to keep this a positive bonus number. ;) Numbers assigned, your ready for training.
This is really rather simple.
Always learn two spells per level. At level two, you should have the first two spells in each of the three circles (spirit, elemental, and sorcerer). After this - and until you reach level 30, you should learn one spell from the sorcerer circle and one spell from the elemental circle. You may save unused training points to get a third spell every now and then from the spirit circle if you wish.
The sorcerer circle provides you with most of your offensive spells, the elemental with most of your defensive spells. While the spirit circle is tempting, you need to look to your defenses first. At level 30, you can switch to one sorcerer circle spell and one spirit circle spell per level.
Once you have both the spirit and elemental circles learned to the 30th level (a 'lil over level 50 usually), you may want to consider doubling in the sorcerer circle, too really enhance your offensive abilities. This is because the new magic system uses how many spells you know from within a circle when calculating your ability to hit.
Other skills to train in:
Spell Aiming: I stress versatility for sorcerers, which means having as many attack forms available as possible. This lets you hit as hard with an elemental spell as a wizard, and you will eventually know one!
Shield use: Increases your physical defenses. Will parry missile attacks someday.
Physical Training: You need to increase your health points! When you are maxed out (different races having different maximums) keep studying as the excess helps increase the rate at which health points are recovered. This last feature is not yet be implemented as of this writing and as such, is subject to change.
Edged or crushing weapons - pick one category and stick with it. There will come a time when you may stop studying weapon use, but for the first 30 levels or so you must have it.
Mana Sharing: This skill is actually used by at least two sorcerer spells, and the <SEND> command. Always train in this at least once. Never stop training in it. The higher the better.
Scroll Reading: Very useful. Can be skipped every now and then but generally try train in this once per level.
Item use: Activates things like wands and rods! Goes hand in hand with spell aiming. This can also be occasionally skipped. Once you find you can easily activate any wand or item in the game, you may want to consider stopping. Older players will still dump a few points into this every now and then in case they find a magic item that requires a higher level of training. Personal choice of when, if ever, to stop.
Armor: 4 times by level 25-30. You will be wearing AsG5, leather tunic, for all of your early life. 4 levels will allow you to wear AsG6, which adds arm protection. Using anything higher armor-wise incurs a Spell failure roll. This % to have a spell fail due to armor is unacceptable, given the mana intensive nature of sorcerer spells.
Perception: Try to train once every other level. This skill has a variety of uses.
Climbing: As much as you can spare. Some areas of the game require some training to enter. There is no agreement on what the minimum recommended training is amongst players. I believe 4 times by level 25 a good minimum, though more is certainly better. Try for 10 ranks if you can squeeze it in.
Swimming: Same comment as climbing
First Aid: Not needed and usually skipped, but if you can spare the points this really comes in handy when you have trained 10 or more times (uses of the <DIAGNOSE X FULL> command; also: <TEND> command for bleeding wounds, skinning skill modifier, etc.
There you have it. My ideas on sorcerer design. The end result is not a specialist, but someone who is well balanced and capable of doing a great many things. This character always has an option or two to use. It's how I'd do it, at any rate. Others may have their own ideas.