Yes, this is the third time I'll explain it. If you don't save Cedric, the wand kills you even though you weakened it. The blast is enough incinerate you. It then tells you forgot to save Cedric, to warn you he was needed to take the majority of that blast.
I'm sure there is a youtube video that will show you the death :p...
There is also a narrator line or two that mentions that Cedric took a powerful blast instead of you, and saved your life :p...
Its also hinted in KQ5 that he might be dead, with Crispin reviving him. In the KQ5 NES and Companion its said he's turned to stone, with Crispin reversing the spell.
Here is the nese death montage, see the final death for the no save cedric path;
http://www.youtube.com/watch?v=5KWSKYICmDgHere is a quick montage from the PC version.
http://www.youtube.com/watch?v=fgF_Y437cVECedric because we don't have to wait for her to leave a screen after we do. GEEZ for someone who can fly Cedric is ungodly slow.
I went and checked again, but you don't have to wait for Cedric to fly off the screen. Actually there is a half second delay while he leaves his perch, before it loads the next screen, and a half second delay for him to land in the next screen. So its much less than waiting "10%" of the game for him to fly. Its more like waiting .0001% of the game for him to take off, and land (you don't have to worry about the actual flying)... I barely notice it.
Actually what's more intriguing is he may take off after you leave the screen, but he lands before you enter the next screen. So that actually means he quite a fast flyer.