Wow, spirit ball in the game is a skill that can be learned first at lvl 18, so for you to feel so confident in it, I'm guessing you have it leveled up pretty well than?
It starts with a stun (gets longer on higher level i think), does three hits at higher level you can put a knockdown at the end. On top of that it has a +50% damage multiplier as backattack.
So yes, Spirit Ball / Sokidan is a formidable move. Compared to some moves i wouldn't call it overpowered, its single target and you're not able to do anything for like 3~5 seconds. Longer if you charge for powered up version.