While it's only one character in the party, I've had great success with a lizard inquisitor who has been customized to use Aerothurge, Pyromancer, and Warfare. The traits I picked were Comeback Kid and Far Out Man, but they aren't necessary.
You put a majority of your points into Intelligence while putting points into Memory as needed. All of your combat trait points should go into Aerothurge once you have one point in both Pyromancer and Warfare to maximize magic armor damage, then pick up the following skills when you can (In any order):
Crippling Blow, Shocking Touch, Blinding Radiance, Phoenix Dive, Spontaneous Combustion, Ignition.
You can compliment these as you see fit with Battering Ram/War Stomp, Haste, Teleportation, Burn My Eyes, and a decent staff so your warfare skills do magic damage.
Since you have no investment into Wits, you will almost always go last on the first turn. When your lizard's turn comes up, caste Haste and Burn My Eyes (I had my ranger cast this on my inquisitor). This should push them up to the front of the next round in the initiative order, which allows them to essentially gain two turns back-to-back.
Then you Phoenix Dive in when you see a good opportunity and unload all of your AoE magic damage and fire skills (Ignition, Lizard Breath, Crippling Blow with a staff). Your goal is to break the magic armor of one of your targets apply stacks of burning to them, then follow up with Spontaneous Combustion. On average, Spontaneous Combustion on a target with 3 stacks of burning dealt around 100-140 magic damage in an AoE, which completely melts through what most enemies have (on top of the damage you did the prior turn with your initial opener, usually around 60-80). Since you are fire immune from Phoenix Dive, you don't have to worry about hitting yourself with Spontaneous Combustion (it even healed me since I had over 100 fire resist). Once you have broken all the magic armor of your surrounding enemies, you are free to follow up with Blinding Radiance for AoE CC, or Shocking Touch in case one enemy still has a bit of magic armor left.
It was definitely one of the most fun characters I've played, and I'm thrilled to have actually found a very good use for the Lizard Racial ability- I'd actually be a bit sad to see it changed now. A large part of what makes this build so much fun to play (aside from massive explosions) is the fact that most of your skills only cost 1 AP. You can do a ridiculous amount of burst damage and you have access to warfare skills and physical targeting CC to compliment a warrior or ranger in your party, too.
