Magicka is the most fun arcady magic I've played. Weave basic spells together with button combos into more advanced ones, discover which work, and some can even backfire.>>767
Morrowinds magic is dope, a bunch of spells I can't remember having seen anywhere else. Like conjured armor, or having mark+recall / tele to a closest-variant-of-temple instead of just plain old blink/tele to anywhere you want. Just anchors the system into the game world that extra bit.
Arcanum I have a bit of mixed relationship with too. It's one of my favourite games, but as you say some spells aren't really made to fit. Like the final dark necromantics spell, Quench Life, being essentially just the basic Harm but you pay 10x mana for adding a flashy effect. But you just gotta love a game that lets you transmute the final boss into a sheep (even though it was still a very powerful sheep).
Also the only game I know with something like Conjure Spirit. Only wish it could have been more fleshed out, cause just adding that possibility makes so many more emergent mechanics possible, and it could have such a huge affect on a game world if a dev just made the effort. Getting chased down by a mob of towns-people because you were found in possession of a locket bound human spirit (which is taboo for obvious reasons) by the local inquisitor when your luggage was went through by customs.
If you already checked maybe you already seen it, but Suveh Nux is an IF where you are a magicians apprentice that gets stuck inside a room and have to get out by way of kinda a magical puzzle. Very short, but fun.