I agree with you all. The spell system is very boring and weak compared to EQ1's. I don't play a Wizard I play as a lvl 33 Necro and I am just as dissapointed that we Necros are missing many of our class defining spells. Spells such as, "Drain Life", "Feign Death", "Darkness", and "Fear". All us Necros seem to be is a boring Mage only we get an undead pet. Boo to you SOE!
I am greatly considering quiting EQ2 and just cross over to the cartoonish looking, Worlds of Warcraft. Sure it is a little more cartoonish looking but if you read about the class/races on their sight it seems like a hell of a lot more fun as far as abilities and spells go.
I sure wish EQ2 would have kept EQ1's racial bonuses and negatives aswell as class spells. EQ1 owned in it's time but now unfortunately it is getting old since I have seen all I can.