Well I checked it today and here are the results.
1 missle with 5 of everyting = 472 mana
4 missles with 5 in one element = 436 mana
Thats 36 mana you save, but when we take in account the time. 4 skills => 4 times casting a spell. 1 skill => 1 time casting a spell. So we can basicly say that the 36 mana points are compensated with your gain in time. However when we take in account that some creatures have resistance agianst certain elements, it is better to have 4 seperate skills. All I can say is
Nice balancing <img src="/ubbthreads/images/graemlins/up.gif" alt="" />