It sounds like the OP is playing in a 3 Physical/1 Magic team, which would certainly be underpowered. I have struggled at times with a 2 Physical/2 Magic team.
Mages do have many long range high damage attacks, at least once in Act 2.
I have however given up on using dual-wands on my Wizard and switched to Wand + Shield because I was sick and tired of the AI focusing the wizard down.