The skill is still very strong, so the tuning on its proc coefficients will hardly trivialize Meteor builds, and we anticipate that it will be brought back to roughly where it is currently in patch 1.0.4.
Meteor on 1.04 is mainly used at melee range because of the landing time. When you are at melee range it is easier to land a meteor. Against mobs with huge hp pool. Their is a chance that the fight will not move so often if people are able to tank the damage. For these people/situation the nerf hit harder than the others.
For moving fight the nerf should be balanced by the landing speed reduction.
I kinda don't like that a successful meteor on PTR feels way less rewarding that it is on 1.04. But I see your point and I agree that a landing speed reduction is coherent with a proc scalar nerf.
However ! Some people calculated the proc ratios and I am one of them. As far as I know the only variable used to explain proc scalar is the number of monster hit per second.
Spectral blade : wider area -> more monster hit -> proc scalar reduction feels logical
storm chaser : bug fix -> proc sclar reduction feels logical (even if I don't think 1/8 is the good value)
meteor : meteor -> faster landing -> more monster hit for an average situation -> proc scalar reduction feels logical (even if I don't think the PTR scalar is the appropriate or reducing the melee effectiveness of meteor is the way to go)
meteor : star pact -> faster landing -> same amount of monster hit than runeless meteor ! -> proc scalar reduced more than runeless meteor -> it does not feel logical.
Why for example mistral breeze get the same scalar than a runeless twister and not star pact for meteor ? As far as I know resource cost never influenced proc scalar and meteor is the first to had this. You can debate that because meteor has got a huge cost you are more likely to spam star pact... but if you choosed a more costy meteor you could have landed one or two signature spell instead of a meteor. It feels kinda meh...
Enjoy the game folks :) See you in game.
[EDIT : hey another guy who calculated proc ratio below my post : chears apo ! :)]