They also said combining spells would create interesting effects?
No, it said combine them for devastating effect. Well, if I shoot two damage spells at once, it will be devastating, with or without combinational effects.
I am still very happy with this ability, and I never thought they'd let us combine them anyways. What I see is using a defensive and offensive spell to great effect. Mage's can actually have quick combat like other classes got in Oblivion. No more slinging one spell, menu -> different spell, cast, menu -> previous spell, etc.