A disclaimer; I'm fairly "new", returning after 8 years of inactivity. But here's my $0.02 anyway:
I don't know how you feel about hiding, but I'd drop that in favor of an invisibility macro / potion and get GM inscription instead. That nets you 10% increased base dmg for every spell, and minor benefits to reactive armor/magic reflection. I don't think magery itself nets you any spell damage increase, but if you rely on vortexes or enjoy EQ it might be worth getting 120 magery to fizzle less.