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In my opinion, having two schools of magic is only justified for Necromancers and Mages (and even then, not always, or at least you can manage with just one without any drawbacks). For everyone else, having two schools of magic is detrimental (unless it's just for experimentation). Therefore, you need to decide what your focus will be: either Chaos or Light. As for the Academy, yes, you can try it; it's useful for Dwarves... As for the beginning of the game, Chaos is always good, and especially at the start. The other schools, yes, they develop over time... If you're having a hard time at the start or need to level up efficiently as quickly as possible, then Chaos helps a lot. A regular snowflake (a spell of only the second level) with expert Chaos, even with a magic skill of 1, will deal more than a hundred points of damage; with a magic skill of 5, it will deal 146 damage; with a magic skill of 9, it will deal 206 damage. And that's very significant at the start, and it's also mana-efficient...