Henry
Autoexreginated
Yarp.
Cool stuff is what you do with whatever resources that you have at your disposal at a given time.
Not enjoying the current adventure is a separate issue IMHO. If you really loathe going on what seems like a peasant's mission would being able to shoot fireballs out of your arse really make the adventure more enjoyable?
In several cases, yes -- it meant the adventure was over quicker.

NPC: "Kill those rats in my cellar."
Wizard: "Fireball!" *FWOOSH!*
Wizard: "Done! What's next?"
NPC: "MY HOME!!! DAMMIT!!!"
In a similar line of questioning, would you play in a campaign where you never leveled and only had 1st level adventuring quests for a six month campaign? In my experience, I enjoy exploring, weaving a great story, and developing a character, but I also enjoy a mechanical feeling of progress, too. It's part of the fun of a levelling system, and why some people prefer games like D&D to others like Savage Worlds or GURPS, where the rate of progression is MUCH slower.
Back when I played AD&D in high school and college, I didn't mind advancement every two or three months -- now, when we can only play two sessions a month for a given campaign, if it took me four or five sessions to level, I'd feel like I was going nowhere for two to three months - in our case, we level every two sessions, roughly. It's a dizzying pace for some, but in context, "dizzying" hardly describes levelling a character sheet once a month.
