In a new dev blog, Designer Stephen Cheney spells out (har) the approach the team is currently taking with arcane casters (i.e., Wizards and Sorcerers). While these classes will get a huge reservoir of basic cantrips to fling out during normal combat, their actual spells will be difficult to acquire, powerful to perform, and limited in number of uses.
Cheney talks about how wizards will put together spellbooks, why it's important to have a pouch full of spell components, and what keywords you're going to want to collect in order to build the type of caster you envision. It's a lengthy read, but as a wizard apprentice, you're already used to that, aren't you?
[Thanks to Matixzun for the tip!]