I don't even run a Wizard, not because I don't like them in Pillars of Eternity, I just hate all Wizards except like Elminster anywho... I don't even use my per encounter spells on my Priest really if anything its just convenience really, well now I just booted up Pillars and check out Aloth and his deal. My conclusion is that it is balanced. Yup as far as I'm concerned it's pretty legit I've gone through POTD a bunch of times, not 100% if its balanced for Wizards. If anything I would like to see diminishing returns on the increase of Accuracy on lower level spells as you get higher level.