Gadrel has the right of it. When you invite a skilled Wizard into your group, expect to see mob health drop a lot faster - especially when it matters most. Caster mobs that would normally be spitting out hundreds of damage are usually taken down in a few seconds.
Sustained DPS is important, but burst DPS will save you from wipes time after time. I cannot begin to tell you how many times my Wizard saved his groups in classic. The healer is OOM, the tank is nearly dead, and things start to run or scatter and attack the cloth-wearers.
Conflag! Conflag! Tishan's! Ice Comet! Everything is dead in about 10 seconds. It's always hilarious to see your group standing there dumbstruck like, "What just happened? We survived?!?"
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