Flare can be both multiple and single target, has a base strength of 200 and can be reflected. Meteo is always multiple target, has a base strength of 180 and cannot be reflected. Honestly it's preference. Considering you already have Bahamut both Meteo and Flare are somewhat useless since Bahamut is multiple target and does more damage than both of these spells. You might want to go with Wwind to put enemies into Critical Status to allow your melee characters to take them out in one round.

Also all spells at all levels use up one magic point per use of their relevant level.