If they can make it fit in with the lore, I say why the hell not. Variety is always welcome in my books.

I doubt this has anything to do with age. But I'd take quality over quantity (well not EVERYTIME JUST THIS TIME) and the spells are definitely of better quality then they were in previous games.

I'll let mods add spell making.

True.

On topic: I believe wind at least would be easily lore-friendly. In the book series The Last Year of the First Era/Age one of the Glenmoril Witches uses wind to kill an orc.
As for dark magic: I think it would be better if they fleshed out daedric and necrotic rituals and made them usable for the player making the dark magic that already exist in the world a gameplay option.

Enough about the spellmaking-we have enough of that as it is, and griping about it here just hijacks the discussion into one of a million gripes about how the magic system now svcks.

that said, here's what my mind can come up with
new elements:
poison
wind
metal
water
light
shadow
entropic
magma
insects
wood
blood
earth
that's everything I can think of on the spot

Well, im thinking light would be something like restoration and dark seems pretty close to conjuration maybe
they should include some earth elements. summon spriggan

Maybe mix fire and ice to get water then mix that with water to get steam? Steam centarions use it. Add in an earth element mix fire with it get molten lava? Lightning can mix with wind get some kind of tornadoe effect?

Make detect life more like it was in oblivion where you cast and see things rather than having to hold down the cast button