Although the game's implementation of magic is a bit more overt than I expected (I thought it might be something more like runes you could engrave on armor/weapons that would give bonuses) I don't think it is or will be considered a primary pursuit, but more a secondary type thing. Even with the 'mage' armor it still seems non primary.

Cast your shield, go to melee. Cast a fireball at range, go to melee when the enemy closes. That sort of approach seems the way to maximize its current potential.

But who knows what the future might hold.