You don't need to cover every combination... it's like in Babe Runner, our artist drew like 19 separate images for facial expressions and I wrote the code for combining them. Turned into like 500 unique expressions. It's fun as hell but not usable in practice.
No, there are not too many combinations. On the contrary, there are not enough magic classes to make as many pure mage setups as fighters classes have.
There could be separation into damager class and support class. But at this state we have only a few support spells, it's not nearly enough compared to the amount of damaging spells.
Even worse, support spells require more than just another animation from After Effects, they need unique coding from you most of the time, I mean stuff like magic shield or resurrection.