The wands works just fine at the beginning. Almost all of the earlier enemies are weak against ice, so an ice wand will work. Also, their superior accuracy does help, or at least used to.
Anyway, I did an experiment. I had Rain cast his ice spell a few times with the longsword equipped. Then I equipped a wand instead as well as the thought skill and again cast the ice spell. I didn't notice a difference in damage. However, when I had a character level up and increase strength twice, I noticed quite a difference from those extra four points. This didn't exactly convince me that spending points on spirit would be a good idea.
So far enemies tolerate way to much damage and are also way to evasive. The latter may change soon because I'm getting enough money to buy a crapload of ethers and skills doesn't seem to miss very often. Still, I think it would have been better if enemies were less durable, but in return deal more damage.
Also, spells are ridiculously expensive. Again, being able to buy a crapload of ethers will soon make that less of a problem, but so far I've had to rely on attack spamming.
I'll see what happens once I can get all those ethers.