The key to a Wizards power is his versatility... that comes from his large bank of spells available.. This does not come without a cost. As a wizard it is a huge finacial investment into spells versus a sorcerer. Please be aware that even when finding a scroll with a new spell there is a cost to transcribe that spell into your book. This cost is greatly elevated when you need to buy a scroll then transcribe it. As such your actual level of equipment is usually less for a wizard versus a sorc.
(Honestly I play arcane casters almost exclusively and you can build hugely powerful casters from either.. the only thing that really changes is a slight flavor)