I've the retail version(PC) of this game, patched to the latest and I can tell that it's no glitch! But I could care little about set/preset armors and equipments as I found them often carrying lackluster and inefficient buffs. Also they limit your options of using unique pieces. I only used the defenders of aleroth set initially and even liked it since it would let me dual-wield. Mine is a battlemage but I never liked the Aleroth Archmage set. Yes, the belt bonus might just make it worth your while but otherwise I had gears, epic+unique, that would surpass any given preset except the Ulthring's set. I only used to run out of mana at the beginning; couple of points in mana leech, few in mana efficiency (or at least get Amdusius's helm if want to point-stack) and voila! Made lots of mana potions back in village, had to sell those for tinkers frown

I found myself running very low on mana only when used consecutive Thousand-Strikes! Irony it seems as this is a melee skill and not suitable for pure mages.

BTW- I've heard people found some weird stats in different versions of this game. Someone got summon ghosts or something in his/her hunter's amulet and I had rush-attack in archmage necklace!