Can you study too many colleges?

Ive been playing for a while now and I have a Elven Mage thats level 15. I began wondering if it would have been wiser to spend my char points thus far into things other than most spells. as of right now my mage is studying 5 colleges and is has at least 3 spells in each lore? is this a bit too much? not enough?

 

As long as you are combat-effective, there's not really a wrong way to spend your points. If You're really worried about not getting everything you need, you can always get the lvl 127 patch.

 

If i install the patch the game will still end on the part where i kill the guy or join him?

 

I think so - I've always done all my leveling up before then.