Here is a place to post magic spells and discuss them.

     a. Cloud of Fog: This spell affects an area of 4". Those within the Cloud of Fog will act as if they were caught within an area of darkness (see as Darkness Power). PR 1 to create the Cloud of Fog, it takes an additional 1 PR and an action to maintain the spell.
     b. Energy Blast: Attacks as Power Blast. Energy shots from her hands. 1d20 PR 1/shot.
     c. Energy Cage: Attacks as Paralysis Ray Yellow energy forms a cage around the target. A successful hit means the target is held captive and unable to move/attack. The energy cage only prevents physical action. The cage will disolve in 1d8+2 Turns. PR 2/shot.
     d. Energy Coils: Attacks as Paralysis Ray. Blue energy coils around the target causing it to be held captive and unable to move/attack. The Energy Coils prevents physical and mental action. The coils will disolve in 1d4+2 Turns. PR 4/shot.
     e. Plant Control: A green energy blast commands plants to do Ariel's bidding (she can control up to 20 HP worth of plants). She can animate plants and attack others (for example, she can make plants grow up from the ground and grab opponents). PR 1/spell. An action must be spent per Turn to command the plants.
     f. Telekinesis: Yellow energy reaches out and acts as the Telekinesis Power. Princess Ariel can manipulate physical objects with the maximum weight of 1200 lbs. Objects can be moved with a speed of 200"/Turn. PR 1/initial grab and an additional point for each Turn afterwards that she manipulates the target.
     g. Wind Vortex: This spell creates a small vortex of intense wind that can cause havoc in an area of 4" radius. Attacks as Vibratory Powers. 3d6 Damage, PR 2/vortex.

a) Metalskin: PR=12, act as armor with ADR66. Lasts 1 hour or when the armor is "used up", whichever comes first.
b) Sanctuary: PR=7, Infallible dimensional travel to pre-determined location. PR=7 for each additional person.
c) Shadowform: PR=4, lasts one hour. As non-corporealness.
d) Darkbolt: PR=8, rgn=28". Attack as devitalziation ray, do 3d10 damage to target's power score. These points cannot be recovered until 6 hours have elapsed.
e) Creeping Weakness: PR=5, Rgn=30". Target is fatigued till save End on % die. Attack as devitalization ray.
f) Darkflight: PR=6, movement= IntXCha (540'/turn, or 123 mph). Duration 1 hour.
g) Pitch Sight: PR=4. Duration 1 hour. Allow vision in absolute darkness.
h) Shadow Images: PR=5 plus 1 per additional image. Similar to the mirror image spell from D&D. Duration 18 turns. Each image disappeared upon contact.
i) Haze: PR=3, duration 18 turns. Pentenabrae appears as a distorted light bending image. Any physical attacks that hits have a 30% missing.

Command Weather: [Weather Control] This mystical spell grants the caster the ability to manipulate existing weather patterns. The following table shows the score which must be exceeded on 1d20 to change the weather from one condition to another. The number given (or in brackets as the case may be) is the PR cost of changing said weather.

See VnV Book

Once the weather is changed, it remains for at least 12 turns. When any of the weather conditions given on the table above are present, the caster may utilize it as a weapon or for other purposes (each weather attack takes one action). Each casting of this spell will extend the weather's total duration by 12 turns.
Weather Attacks Types Range Damage Other PR
Cloudy Darkness
Rain Special
T-Storm Lightning
Tornado Vibratory
Hurricane Sonic Blast
Snow Ice Powers
Blizzard Ice Powers

Eldritch Bolts: [Disintegration] The Enchantress can cast bolts of crimson mystical energy from her hands. Attacks as Disintegration, Range 88", +3 to Hit (includes Training Bonuses), 1d20+2 Damage (includes Training Bonuses), PR 2/bolt.
Eldritch Shield: [Force Field Powers] Amora can create a shield of crimson mystical energy that forms a protective barrier between her and her opponents. Treat as Force Field (Screen): Maximum Area 132", Maximum Range 88", PR 5 to activate, Spell's Power Potential 132 (minus 1/2 of number of points of damage repulsed).
Eyes of Heimdall: [Heightened Senses] PR 5 to cast, Range 88". Enchantress' senses become sensitive to Magic, Psionics and she can see through illusions to reveal the real/true appearance of someone.
Hel's Kiss: [Paralysis Ray] The Enchantress weaves this spell with her hands, and then she blows it at her intended victim as if she was 'blowing a kiss'. PR 8 to cast, Range 88", attacks as Paralysis Ray. The victim must then make an Endurance save (d00%) or otherwise fall unconscious. Normal wake-up rules apply.
Mists of Alfheim: [Teleportion] Strange obsidian mists (5' x 5' "portal") bellow from the ground and engulphs the target(s) and when the mist blows away, the target is gone. Maximum Range 1,320,000,000" (1,250,000 miles!), PR 8.
Thought-Casting: [Telepathy] With her fingertips resting against her temples, the Enchantress can send her thoughts to others. Maximum Range 160" (radius), otherwise treat as the Telepathy power.
Whispers of Frigga: [Mutant Power] For every point of power spent, this spell can heal either, 2 HP or 4 Power. HP damage and Power loss must be paided for separately. i.e. A character who lost 6 HPs and 16 Power would have to spend 7 PR (HPs 3 + Power 4) to heal back to his full capacity.
Winds of Watoomb: [Dimensional Travel] This spell creates a strong, mystical wind that allows the caster to travel to other dimensions. Treat as the Dimensional Travel Power with the following conditions: Enchantress can travel from Asgard to Earth and vice-versa without error at the cost of 4 PR (+1 PR for each additional person she brings with her). She can attempt to travel to other dimensions, but then she has a chance of succeeding equalling her Intelligence score, plus 1% per point of Power spent. If she has been at this other dimension before, then her base percentage chance increases to Ix4%.

I have a char, "Silver Dragon", that was supposed to have Chi-based powers and be like "Iron Fist" character.  GM & I came up with "Chi Powers" and this list, (although the GM did not approve all powers -- they were waiting until I spent the IP & then we'd figure out what I'd gotten).

Magic Spells - 'Chi powers' (generally PR=4 + Action, most effects last 1 hr, starts with only 1 power):

• 'Dragon Fist'  --  punch or kick w/carrier Disintegrate, double damage vs inanimate objects (PR=4, +3 hit melee, can't use when invisible.)
• 'Dragon Blood'-- regenerate HP at Heal rate/turn, can be used on others.  Requires attention, can't take other actions.
• 'LightFoot' -- Height Speed (add to move 1d100 x3" + INIT bonus), can run and jump on air, run vertical up walls, upside-down on ceiling, etc.
• 'Chi Weaponry' -- +3 to hit w/Martial Arts weapons (requires PR=4 & activation, lasts 1 hr), or Nat Weaponry equivalent (1d6 determines +1/+2, +2/+4, or +3/+6) costs PR=1 per turn.
• 'Aura of Calm' -- Emotion Control effect, calms & soothes, no need for violence.  PR =10 per successful 'hit'.
• 'Mind over Body' -- Height Stat A - any one STR, END, AGI (roll 2d10)
• 'Dragon's Tongue' - (Ribbon fighting, ie long fabric ribbons rolled inside sleaves, work like 'Telekinesis' or 'Stretch' (ie ranged melee/grabs), can wrap someone up (ie lose movement) or tether them to an anchor object.  Ribbons can hold 500lbs each, 1 for each arm.
• 'Dragon's Tail' -- Evasion is doubled, kick HtH attacks dice are doubled (ie 1d4 = 2d4).  Kicks have a carrier 1d10 PR drain attack, PR=2.
• 'Viper Strikes' -- can strike anyone within reach w/melee attack, no extra PR cost (PR=4) for extra actions
• 'Quivering Palm' -- melee carrier attack delivers Disintegrate, effect is delayed for up to 24hrs, or can dissipate.
• 'Chi Blast' -- Quick PR burn - can spend 10 PR to burn *all remaining PR*
  to split as damage bonus/Hit bonus.
• 'Chi Power Up' -- as Absorb - damage goes to PR score, max 100 PR, req's a ready action
• 'Enchantment Scrolls' -- small paper strips with inscribed spells, strip is thrown onto target to cause effect: freeze, burn, paralyze, confusion, banish undead, make a 'forcefield cage', etc
• 'Mystic Potions' -- brews small doses of potions (in advance) which have amazing, but very short duration, effects.  Others (even non-heroes) can drink potions.  Small dose = lasts 1 encounter or 1 hour, may confer powers like invisibility, invulnerability, flight, cosmic awareness, astral projection, adaptation, elemental control, animal control, willpower, etc.

Definitely a "regenerate others" spell is needed.

The healing rules in the game are unusable, or unfriendly, however you look at it.

One of my villains (The Wizard) uses spells less as immediate affects and more as device-type abilities:

1. Golem-This spell allows The Wizard to create a golem from whatever materials are available at the time. The number of consecutive days required is equal to the SR of the material used. The golem will have strength equal to ten times the SR of the material used, endurance equal to seven times the SR of the material used, and agility equal to 20 less the SR of the material used. Golems are sixty-five inches tall, weight is 150 times the SR of the material used, and have their agility further affected by weight modifications. They are mindless, following The Wizard's orders explicitly, and fight as fourth level characters. They subtract their SR from all damage done to them, but are vulnerable to anything their material is vulnerable to.
2. Doppelganger-This spell costs half of The Wizard's Power at the time of casting, and does 2d6 hit points of damage to The Wizard. However, the spell creates another version of The Wizard with hit points and power points equal to a percentage dice roll multiplied by The Wizard's maximum power and hit point scores. The duplicate can neither recover Power nor regain Hit Points, otherwise it is an exact duplicate of The Wizard. When a doppleganger performs this spell, the maximum hit points and power points are considered to be that which the doppleganger starts with.

I find it hard to codify exactly how to determine when a spell is 2/3 to 3/4 the effectiveness of a power. A recent discussion in another game got me thinking about it, and evaluating my own stance. It turns out, I've been doing this more as an art form than a science, and I wonder if others are having similar experiences.
I've tried to apply hard and fast mathematical formulae to everything I can, and where the powers effects are simple, that's not difficult. For instance, a magical spell that blasts an enemy is 2/3 to 3/4 as effective as Power Blast (average 10 points damage) if I set the damage as 2/3 to 3/4 (between 6.666 and 7.5) the damage done by a power blast, so a magical blast does 2d6 (average 7 points) damage and attacks as Power Blast. Of course, if that's all the character has it sort of wimps them out, so I have been known to double the average damage and triple the power cost (4d8 damage and PR of 3 per shot).
That being the case, a magic spell for flight could be (S x E x 2)/3 in mph with PR=1 per hour and be 2/3 of the normal power.
Actually, when it comes to spells it almost feels better to have some sort of random factor in the mix. If the flight speed was 1d20 x 1d20 in mph at PR of 1 per hour you could have flight that is as good as the normal power about half the time,  about 3/4 of the normal speed 1/4 of the time, and snail slow about 1/4 of the time. To me, that sounds like about 2/3 to 3/4 the normal power.
Also, as it's a magical spell, requiring an action to start flying makes sense. Does taking a power that's movement only and requiring an action to start the power reduce its effectiveness by 1/4 or 1/3? In my opinion such a spell is closer to 1/2 the effectiveness of a power as it uses actions that prevent other powers from being used.
As an aside, comparing the Flight power to a spell with a PR of 1 per turn, the spell has a power cost 240 times that of the power. Such flight is fully as useful as the power in a combat sense, but loses numerous non-combat advantages. Does that reduce its effectiveness by 1/4 or 1/3?.
Does anyone have a better way to weight a spell's effectiveness and compare it with a similar power?

Random is more complcated and is more about a style of magic to me. It would be one way to nerf but should not be required.

I have no formula. I just look at what it might be as a power and then propose something.

Another way is to limit the spell. For instance, Lightning Control gives characters an attack, a defense, and some special effects (control devices). As a spell, you can break this down into three different spells, that makes is less effective than the base power right off the bat. Then you might also play with the range, power cost, damage dice, or whatever.

It is an art, as Star Master says, not a science.

<quote Kid Kinetic
It is an art, as Star Master says, not a science.
</quote>

I agree.

In VnV it is not just about one power or another, It is also about stat and power combinations and power and power combinations. If a character rolls the right combination of powers they can be much more powerful than a character with more powers.

Hey Star Master, I thought I just saw this post in a game.
;)

All I know is that when I GM V&V, I almost always have to scale the players back when they try to make spells.
Then, when I'm a player with Spells, the GM always is scaling me back.

So maybe it's just the fact that Spells are super overpowered?

Here's the 'V&V game-killer' power:
A player that gets 2x (or even 3x?) Magic Spells, and if they have Height Int on top of that -- ooooooh boy!  That is a super duper DUPER wizard.  I guess with anything like this, I will let their spells be almost equal to powers *but encourage them to NOT duplicate powers* but rather make new abilities/powers -- because they can!