I would first like to give due credit to NightCrawler for his recent post regarding a meteor-based build. I have also been tweaking a meteor build on my wiz as she has leveled to Plvl43. I have arrived at some similar conclusions as him, but would like to point to a specific build combo and gear loadout type that may be very effective in 1.07 which should be going active in an hour or two.
Primarily it revolves around a synergy between the three of:
Signature: Shock Pulse-Living Lightning
Passive: Arcane Dynamo
AP Spender: Meteor-your choice, I currently use Comet (possibly Bilz for no APOC builds with the new patch)
The way Living Lightning attacks repeatedly but at low damage causes Arcane Dynamo to stack so quickly that when attacking multiple targets, often multiple meteors can be released consecutively at the full AD stack.
My secondary skills to compliment the main 3 are:
Diamond Skin-Crystal Shell (sometimes shards at lower mp)
Frost Nova-Bone Chill
Energy Armor-Prismatic (sometimes Pinpoint)
These added on allow me to add two hidden dps bonuses, and give the survivability/sustain and mobility that make the build work for me.
Using the main 3 doesn't require any particular gear loadout other than a suggested APS of 1.5 or higher.
To make the whole build work really well, I would build a bit to favor your EHP over DPS.
40+ crit chance
700 unbuffed allres
4000 unbuffed armor
some form of life return
Recommended stats like 700 unbuffed res, 4k armor, 50k HP and 15+ APOC make me think that this build needs very expensive gear.
And with that kinda gear you probably get better results from CM?
Well, if I suggest to build defensively, and people like the build, they will inevitably ask for benchmarks. The defensive stats I listed are easily attainable as long as you are not the type to sacrifice 10% of your EHP to get 2% more DPS. Maybe a ratio would be more helpful. A 4:1 or higher ratio of EHP to DPS seems to work for me. Looking at your profile, I see you are closer to a 1:1 ratio, which would probably not work too well.
As for CM being more effective, you may have noticed that CM is in the build. Maybe the common Wicked Wind/Explosive Blast CM build is what you were referring to. The answer to that is simple: I find this one more fun
As for needing pricey gear, I don't think so. I am not a rich player, and I think a no-crit, no-APOC variant for the poor would also be viable (maybe swapping CM for Prodigy, Comet for Star Pact and Nova for bliz).
Alright then. It's good when it's fun.
I'm using Blizzard/Hydra/Frost beam now and it's awesome playing in a group. My friend who's playing WW barb absolutely loves it when I slow everything with Blizzard. I like that I'm not using cookie cutter and still having fun. I was Archon before. NEVER again.
This one involves ALOT of APOC due to the fact that you have no other offense spells. Another problem of this build is that you need ALOT of RES and ARMOR due to the fact that you're forced to have Storm Armor to reduce Meteor cost.
After 1.0.7 i've read this thread and give living dinamo a try.
Meteor DMG output is GREAT. And you actually do not need too mutch APOC. I have 9 just from source and is pretty fine if you use LL. The only stats that i suggest are CC and CD.
With 50.5 CC and 330 CD i farm mp8 solo (and is pretty amazing when you see 1m crits). The only change i made is Astral presence instead of Cold Blooded.
I've used a variant of this build that's been floating around the b.net forums that uses Shards, SA and Chain Reaction instead of Shell, Prismatic and Tele (along with a similar Spectral Blades build that does less damage but has higher sustain) and I'm pretty sure SNS is the only Wizard build that has higher a higher edps multi. You don't need 2.31+ APS to run it, either, which makes it much less expensive to get the mitigation you need to use things like Shards or SA. You can even use Prodigy until you get some APoC on your gear, since LL synergizes really well with it. Even safer variants that only swap in SA, or use Energy Armor as in this build, are super strong. It's a good build.