You mean a wizard's natural versatility? Or you mean the improved spellcasting versatility from converting to the spell point system?
Because while I might agree on the former, I'd strongly disagree with the latter.
The ability to determine, on the fly, what you're going to cast from your list is more in DDO's combat-oriented campaign than it is in many other situations. You need to cast Resist on everyone? Go ahead. You want to Haste every three-four minutes? Go ahead. You want to cast Finger of Death on every monster you run across? Go ahead.
These are not things a wizard can normally do without greatly sacrificing is natural versatility.