I tend to think of the issue more as a nerd vs. jock conflict. The wizard (nerd) knows the principles behind what he's doing, he's studied it extensively, and this extensive learning gives him a wide range of options. The sorcerer (jock) knows what he's doing intuitively, which gives him less of a range, but also gives him more firing power- more spells per day, no need to study spells before equipping them, powers that tend toward the "blaster" type.

The wizards' disdain for the sorcerers is due to a combination of intelligence and insecurity: their learning allows them to find multiple possible solutions to a puzzle, so they tend to value that multi-faceted quality in magic, but they have to know that if they ever go toe-to-toe with a sorcerer, they stand a chance of being overwhelmed with a barrage of spells, as one Master Fryon learned to his sorrow.