Using the spell point variant, sorcerors lose a lot of their strength in comparison to wizards (and druids and clerics, but let's stick to arcane for now). They are left with 249 points at 20th level which is only a seven percent increase over the wizard's 232. With this variant, not only do they know fewer spells than the wizard and are stuck with their spell choices, but the spell point variant even lessens the gap between the two classes in terms of spells cast per day.
While the sorceror does get an extra die of damage for spending the same amount on a damage dealing spell as a wizard, it seems really half-baked to call such a real trade-off for such a difference in the two classes spell-pool size.
How have others tipped this, or is this considered fair enough? I favor my sorcerors heavily and while I agree with what the SRD says here:
In effect, spell points make all classes work more like the sorcerer...
I don't agree with what it says here:
In effect, spell points...make the sorcerer (or bard) work even more like the sorcerer.
Bridging the gap makes them obsolete by comparison. How can this be fixed?
Edit: If one were to convert every spell-per-day (without the spell point vaiant) into spell points for both wizards and sorcerors at twentieth level, wizards would have 324 (nearly forty percent more) and specialists would have 405 (nearly seventy-five percent more).
This compares to sorcerors 486 which is near double what they get in spell points.
Assuming the wizard is a generalist to capitalize on versatility, the sorceror gets one more first and second level spell but one less sixth through ninth level spell knowing nine cantrips and having proficiency with all simple weapons seems a poor tradeoff.