Yeah, gotta agree. The thing with CA and -2 penalties and such is that for any one given attack they're not a really huge deal by themselves, but when you start adding up the fact that the monsters generally get many attacks in a combat, then if you can keep applying a -2 or keep avoiding or granting CA it does make a pretty big difference. Even if you figure in an average battle the monsters swing say 30 times (and often it is more, especially in the tough battles where it really matters) if you can eliminate 2 of those attacks and reduce 3 more of them by -2 that alone will save the party a surge per fight. In some cases you can do much better than that.
Yes, one can.
But, let's look at your math here. One won't have the types of reductions that you imply.
Let's take the -2. In a ~7 round encounter with 5 foes (the 30 attacks by the monsters that you indicate, some of those will be area effects, but some monsters will be dead by round 2 or 3, so fewer attacks from them), the low level Wizard (3 to 6) will have 2 Encounter powers to use. So, that's 2 rounds out of 7.
On average he can do is 5 attacks at -2 each with single target At Will powers (assuming he does not use an Action Point for an extra one of these). If by the time he gets around to doing this the monsters have used up most of their area effect encounter powers, it means that if he hits 60% of the time, or 3 monster counterattacks, he will give -2 to a foe.
The odds here then are:
The -2 made a difference for all 3 monster attacks: 0.1%
The -2 made a difference for 2 of the 3 attacks: 2.7%
The -2 made a difference for 1 of the 3 attacks: 24.3%
The -2 made a difference for 0 of the 3 attacks: 72.9%
Note: these percentages are only concerned with the -2 debuff, not with the attack doing damage and contributing to the death of the foe.
As can be seen, the -2 by itself typically doesn't do squat.
In almost 3 encounters in 4, it doesn't change the outcome and prevent any monster damage.
And this assumes that the -2 at will attack is used 5 times per encounter. That typically doesn't happen in most encounters (where some rounds, other At Will powers are used). In a more reasonable 3 times per encounter, it only stops monster damage one encounter in six (or 1 in 9 if used 2 times per encounter).
In most encounters, you won't be eliminating a single monster attack damage with the -2 debuff, let alone multiple ones like your conclusion.
It's actually often better to use a -2 debuff power early in the encounter when a monster still has an area effect power remaining to force the monster to either use the area effect at -2, or to not use it right away.
I had 2 fights almost back to back where the wizard effectively eliminated 3 standard monsters in one fight and a nasty lurker in another fight for the entire fight with TWave. That's kind of the extreme end, but any wizard should be able to knock an enemy a turn out of position with 50/50 success with at-wills pretty much all the time.
Yes it can happen, but you appear to be remembering the times when it worked out well and forget the times it didn't change anything.
I too have used TWave to great effect on occasion, but the times it changed little far outweigh the times it saved the day.
As humans, we tend to remember the 3 times it saved the day and forget the 40 times that it only did some extra damage and the forced movement part of it was more or less negated by the abilities of the foe.
You also have to count synergy. There are a lot of situations where just slowing someone down or preventing an OA or whatever minor effect will enable another character to more reliably attack or force an enemy into the spot where they can be caught in an AoE etc. Remember, the argument that the Wizard is often the only guy that can drop on any old foe wherever needed works for all powers with any significant range too, not just MM. If I can drop Storm Pillar, I can put it most anywhere on the map and mess with a trouble making monster.
No doubt. Synergy is extremely important and useful. But a Storm Pillar anywhere on the map??? The monster typically has to be in a corridor or at the edge of a room to do more than a single dose of extra damage. Storm Pillar is more of a rare bird to use well than Magic Missile unless the DM plays most NPCs like total idiots. Sure, put Storm Pillar 5 feet above a monster and have the PC it is attacking shift back a step. It does the extra auto-damage in that case IF the monster has no ranged or 2 square area or reach. But, that's damage (just like MM), not control.
Putting it 5 foot above and in front of the monster and having the ally PC shift back 5 feet can be more control, but a monster can often just move out the back and around the effect in that case.
Sure, if I have MM I'd use once in a great while as a Mage, but I doubt it would even be once an encounter.
You also design Wizards with high Wisdom which not everyone does. It really depends on the flavor of the Wizard and the makeup of the overall party.
I've used it to great effect in nearly every encounter (sometimes multiple times per encounter) for my Wizard since they changed it to auto-hit.