Most spells in the game have a set power level (i.e. 45) that is factored into the rest of the magical damage formula. Meteor, however, adopts whatever Wedge's Magic Power is and sets it as the spell's power level (letting you potentially raise it to 255! O_O). It will do upwards of 60,000 damage at max level without the use of Relics, Paradigms or level up bonuses from Nethicite. Meteor is the strongest single-hit area attack in the game, even stronger than Ultima.