I like this system, I do think you can go into more detail about what wands you use. There are many to chose from to limit people to just those can be a little restricting, following this you could say that each wand gives you a bonus to a certain spell or proficiency. Finally, I know it's nigh impossible to list all spells, but you have missed some. I.e. Bombarda, feindfire and such.
Great potential though