Frankly, there are so many stories of wizards using magic to extend their lives in the fantasy most of us have been exposed to that I'm surprised it took so long. I mean, it's in the FR novels, the Dark Sun novels, the Dragonlance novels (ie. Fistandantilus), and innumerable novels by other authors as well.
Several of the Relics & Rituals books from SSS have included spells to extend lifespans. There are methods (albeit weak, except for epic level casters) in the Black Company Campaign Setting, as well as the Wheel of Time campaign setting (and novels) of achieving either extended lilfespans or immortality.
Yet core D&D? Since the demise of the potion of youth of elixer of longevity in the switch to 3E, it's disappeared, and the majority of spells etc. are focused on how to kill things. I think it's about time that there were a few more ways to duplicate magic that does stuff other than blow things up. Look at our world today....for all the technology we have that is applied in a military way, there are probably 100 non-military applications. I'd think magic would be the same way. Yet the rulebooks still focus on the "killing things" type magic....to the degree that much of it is balanced in ways that don't make sense in non "killing things" ways, just to make sure it's balanced with respect to "killing things".
I haven't purchased the new Dragon mag yet. It hasn't made it to my store. But if the Incantifier in that article is anything like the source material, there should be some hefty drawbacks. In 2nd Ed., the Incantifiers (who were wiped out in Sigil's past) had cool powers...but they had to basically eat magic items regularly to stay alive, IIRC. A fairly hefty penalty....
Banshee