Nah, at some point it might probably wont even be able to rival with firebolt. The thing is during the time i wait to cast meteor again i use fireball. Hydra isnt close to the damage meteor can do. It get it's damage raised a little by firebolt and fireball. But fireball and firebolt do not get their damage raised by Hydra.
I would also suggest 1 point in frozen armor and dex for good blocking. Thing is who care if your sorc can take 20 hits from a monster. Most time they will be stuck in recovery till you die. The block give you a chance to survive and the Frozen armor freeze the enemy that hit you. Giving you time to recover and go on with mfing. This is mostly usefull against those damn !@#$en undead stygian.