Loved it, mainly because it matches my view on how playing a wizard could be like. With enough study and power, a wizard could summon (or maybe even create, or alter existing ones) creatures and bind them to his/her service, but carefuly watching how it behaves and how it reacts to the spell.
This is the kind of magic i wanna see in DF, course the plain old fireballs should be possible, but the main thing about magic in this game, i feel, shound't be throwing fireballs or throwing lightning, but spells that alter and expand your dominion over your environment, like special alchemic/magical reactions that changes one material to another, creating monsters with random parts of dead ones, raising the dead, becoming immortal through lichdom, altering your body, freeing your spirit from your body and possessing someone, summoning demons and other creatures and binding them to do your bidding, not limited only to attacking and guarding you, etc.
This is how i envision wizards in DF, not fireball machine guns, but things of true power and god-potential.
Of course, living as a wizard should be pretty difficult, as most people would dislike you, few would be willing to trade with you, and as your power grows, you could attract unwanted attention, and of course, being subjected to negative effects of your own failures.
Conjuring magma and booze would be extremely dwarfy aswell