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I've only learned 1 spell and I'm almost done with my first play through the game (just need to beat the boss of 4-4 and endgame). So no, spells are definitely not needed to beat the game. I'm using a Dragon Longsword +3 and a Lava Bow, and the only part of the game that really gave me a hard time was the boss of 2-2, the Flamelurker.

You can always get the souls again on the next play through anyways, so it's not a big deal.