Personly I've always put everything into VIT and only put points into the others so I can use my equipment.
I think the best all round build is a frozen orb/meteor build if you want to solo hell
1 point into Warmth (you'll get more from equipment)
1 point into Teleport (you'll get more from equipment)
1 point into Frozen Armor (you'll get more from equipment)
20 points into Fire ball
20 points into Meteor
20 points into Fire Mastery
20 points into Frozen Orb
17 points into Cold Mastery (unlike Fire Mastery, CM only reduces an enemies resistance rather than upping the raw damage, therefore it is said not to be worth taking past 17, so I guess if you can get it near 20 after your +skills that'll do.)
Your Frozen Orb will be your main spell (Fire Ball incase of cold resist) and your Meteor will be the hard hitting spell you only use when your sure of a direct hit.
I can't help much with equipment as my sorc was always used for magic find but I guess a Shako helm is a must (or Peasants Crown), You can craft a 'Spirit' crystal/broad/long sword with some very cheap runes and a 'Rhyme' bone/small shield or Lidless shield are easy make/find. Magefist or Frostburn gloves. Arachnid Mesh belt if you can find one.
Just keep looking for stuff with, All resist, plus skills, regen mana, faster cast rate.