Well i dont think its UP either, but I DO think it needs a reduced spell cost
So, reduce it with perks and enchanting. It isn't 100% cost reduction or nothing; 40-50% from enchantments can be achieved with plain old loot, and between that and taking the relevant perks, it sits nice and comfy in your magicka pool. There's a reason that they focused more on cost reduction than straight up damage.
and spellcrafting sucks
Sometimes I edit my sig so it continues whatever I was posting about.