Amorous Eyes,
Yup. The Wizard class is very versatile. At level 1 you can only cast 3 spells, BUT you are correct, when you hit a rest shrine, you can switch out those three spells to anything else before you attack anything else (you get a spell switch icon which is like a quarter magic circle symbol)
Wizards can also scribe more spells into their spellbook via buying inscription materials (cost like 140g for level 1 and 480g for level 2 BASE cost before haggle check) and you can scribe new spells into your book. You can buy scrolls at the marketplace which is locate in the middle of the market (new tent, can't miss it)
When you level up as a wizard you get to pick up NEW spells for FREE so choose wisely. I do believe you can pick up 2 spells (only level 3 wiz so far so I get to pick 2 each time I level) and you can choose spells from ANY levels you have access to. I recommend scribe any spells you find scrolls for so you can be versatile in an instance.
Here are some of the cool spells you can use in the early levels.
Level 1
Hypnotism - this is an Area effect spells (AoE for short to those who are new) This is a GREAT crowd control in early levels. It is essentially "sleep" so they stay imobile until you hit it (or your team mate hits it)
Summon Monster I - This is a good companion and "hidden mob" detector. They can see hidden monster and will start running off and attack it. It only last one minute and have 1 minute cool down (except sorcerer which STILL last 1 minute but only 30 second cool down)
Niac's Ice ray - this is probably one of the most powerful 1st level attack spell (requires a save) and does pretty good damage early to those not immune to ice (like ice mephits)
Magic Missiles - well.... who doesn't want to attack the darkness with magic missiles.
Level 2 spells
Web - this is probably going to be the best spell in groups. Mainly anything that runs thru it will have to make a save or be stuck (and can't attack back or cast spells) this is great against all kinds of mob unless they are immune to web (rare)
Tips on bonus items.
Here are the following in terms of what bonus stacks
Stats
feats
enhancement
item bonus + competence bonus
You can only have ONE of each to count. So if you have a glove that gives +1 dex and +2 dex, you only get the +2 dex
now you can spend action points to enhance your dex (depending on class and race) it stacks so lets say you spend 2 points to get +1 dex, wearing an item that gives +2 dex, you will have +3 dex to your base dex.
Tomes add permanently to your stats so it falls under stats. if you eat a tome (yes eat it literally) like a +1 tome, then from above you will have +4 dex. Now, the tomes follow the same rule. If you eat a +1 dex tome and a +2 dex tome you only get TOTAL +2 dex from tomes and then +1 enhancement and +2 item.
Attack bonus works the same way.
Stats = you BAB base. Normally you get +1 per level. Feats DO stack since those are spend upon level.
One of the coolest item to get in the beginning for combat type is goggles of insight which gives +1 compentence bonus to hit which mean it will WORK WITH anger set which gives +2 to hit (or pathfinder set) that means +3 to hit at level 1
kinda nice eh? not including any enhancement or stats bonus. (which is strength base)