Constitution: Lets put it simple, if you die a lot either play smarter or get more con. Most wizards stop at 75.

Agility: You need 45 agi for Spell-casters outfit and charged staff but I think 55 is not a bad idea. The AC boost is pretty handy. Stop at 55 since dodge only gives bonus till that.

Intelligence: Just pump it up as much as possible since this is the most important stat.

Faith: If in a party, you don’t need so much faith. But if you solo from time to time, like in marshes you need a lot more. I will get 70 faith after I have 200 CR (200cr=212 int with 2 Enchanted Rings + Charged Staff). Faith is also said to be more important for the Necromancer branch, keep this in mind.

At earlier levels, up to 30, it's easier just to have 1/3 of your int in con, agi and faith. Example:
Str: 15
Con: 30
Agi: 30
Int: 90
Fth: 30
(You might want to get 33 agi a little bit faster though, since it allows you to use Traveller’s Outfit)
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3) Equipment     [ top ]
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Armor or Outfit:
I’ve heard three different theories of the right equipment.
1. Use the best standard wizzie equipment that you can use
2. Get some Str and use the leather kit, you already knows the ups and downs of that I hope.
3. And lastly, a little weird idea I’ve heard somewhere. Only use Exclusive clothes, Common Clothes or nothing, for low stamina drain. That means that you will have much more stamina when it’s time for running. Note that this doesn’t affect you if you are using a horse. I never tried if this is true but I can assume it’s a bad idea. It should save rest time. Sooner or later you will need wind-casters outfit in Eg. It gives you +10 resistance to blue and that is required if you want to survive the iwid mages lightning.
Staff:
First use normal staff, then iron staff, gloomshredder staff and lastly when you have 165 int, Charged Staff. Not much else to say here.
Necklace:
Only one option, Water Pendant wich gives +10 mp and +5 blue resist.
Rings:
There are currently 3 choices, Enchanted Rings, Zatras Rings and Water Rings. Enchanted Rings are the best, stats wise, since it gives +5cr. Zatras Rings give +10 mp each and Water rings give +5 blue resist. 5 cr is the same cr bonus as 12,5 int but 10 mp is only 6,7 faith. With those statistics you can see that enchanted is better than Zatras Rings. The third alternative, Water Rings are only good in eastern gate. Where you need all blue resist you can get.

“However, later on, I think 10 CR won’t be as important as 26 MP (2 Zatra’s Rings with max Focus, MP-increasing skill), seeing as how Magic Use 2 will give us loads of CR anyway but MP won’t be as easy to get.” –Enquillion

Feet, hand and head:
I again recommend nothing, but if you really want 25 Str use Leather Gloves, Leather Cap, Leather Boots and maybe Wooden Shield. Most high-level wizards have 15 Str. However there has been spoilers saying that there will be boots/gloves/hats for Wizards in the next version, however i don't know if they will need any strength to use.

And be sure to get a horse, it’s really handy.
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4) Spells and Skills     [ top ]
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There are only three spells in Akarra right now and you need them all. Especially Lightning I, since that is the only attack spell. The other two are Entangle and Flare. Both of them are quite good, but flare doesn't need many gems in it to be good. I also recommend getting Tend Wounds, a basic healing skill. I’ll list all useful Skills and rang them:
1) Magic Use I
2) Lightning I
3) Dodge I
4) Tend Wounds
5) Entangle and Flare
6) Cold Resistance (If you are level 70+ and at EG this is #4)
7) Illusion Resistance. Handy when you want to resist Nightmares and maybe Entangle.
8) The rest of the resistances aren’t that important but I’ll list them anyway. Curse Resistance, Heat Resistance and Venom Resistance. Curse resistance doesn't have any use at all at the moment.
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5) Tactics     [ top ]
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Next how to play as a wizard. This is also the last section. First I will like to say that if you want to get as much exp as possible then get yourself a fighter cause you can't do it alone, at least not after level 25. Writing more about playing as a wizard protected by meat shields wouldn't be such a good idea. So lets get on with the good stuff. I will cover this in different areas, of course the tactics can be used in different places than just those but it works best there.
The different places we (The Unseen University) has developed special tactics are for:
Tower, Sanled, Marshes and Linwood/Loretrees. The only one we can take full credit for is Sanled so let’s begin with that.
You need 2-4 mages, one can do it but it takes time. YOU NEED A HORSE!!! We also tried this at Viom once, but bagarogs have a really high green resistance.
- Lure the mage away and kill him, since he has long-range spells so the tactic doesn't work on him. But it's easy to kill him anyway.
- Entangle all of the Undead Champions; this step could be done at the same time as the first if you are more than one mage.
- Concentrate all your firepower on one of the champs and don’t let him hit you, that’s what you need the horse for. You need to be a few square away from him for this to work. When you recovered from the zap, run fast in the other direction.
- Repeat

Tower and Stronghold next. Make sure you have enough faith to kill one monster here; otherwise you will have to kill them in 2 tries. This tactic can be used to get you Enchanted Rings, which are dropped by twisted servants.
- Lure a monster to the exit and just when he’s about to hit you…
- Run!! And re-enter fast.
- Then when he’s at the right distance zap him and he will start walking towards you again.
- Repeat
The same thing works in cellar and probably in most underground places. It’s confirmed to work in Tower and Stronghold. It works in EG too, just that I don’t have enough mp and CR to kill a militia. Enquillion believes that Entangle could make it easier, however I think that the extra time can be used to heal just a yourself instead. When a Twisted Servant runs, it will always stop at a certain place from which it cannot flee. At low health, they won't attack you, so you can simply walk up to them and finish them.