Hmm - subtext is missing. I'm totally cool with All Wizard! I looked at about fifty variations, and went with this one.
Yeah, his melee attack is way subpar compared to fighters... but he's a Wizard with AC 20. He can block, flank, coup de grace and laugh at concentration rolls. Y'know how normally the fighters have to protect the fragile Wizard? Ha!
There are a couple of 'S' less spells - and they're cool. Plus, given 5 minutes he could be casting any utility spell. And frankly, losing a single spell level to Still Spell might hurt now but at level 7 it's barely anything. Plus, of course, he can burn a Hero Point for the day to apply it for free!
On the other hand, he's going to be able to make armour, weapons and alchemy from day 1 - and scribe scrolls. I figure on getting the various crafting feats, and keeping up the skills. As a Dwarf he might eventually be able to make fellow team members Steel weapons. Magic Steel weapons, potentially. Now a lot of that is going to depend on the type of game - long overland camping trips are probably going to stop it - but a lot of games have a decent amount of downtime, and he can use that.
And ACP wise. at level 5 and with 2500gp and a first level spell he should be able to get the ACP down to zero, and his attack all the way up to +3!
Normally the fully armored wizard concept smacks into Full Plate and dies. In a world where +7/+2 is as good as it gets, he's suddenly viable.