I've played a fair number of wizards over the years, I like them under 3.5 especially though it's hard to say exactly why. I think it's the customization that feats and other abilities offer.
There are some basic choices that need to be considered when making a Wizard, though peoples priorities on such things vary.
Race: Any race, really, is fine. I've even played a Half-Orc wizard, that was a rather fun char. Half Orc Barbarian/Wizard - Eldrich Knight.
Schools: To specialize or not, that's a tricky one. I feel that the specialization rules are fairly balanced, though it annoys me to lose 2 schools when I specialize in most. But a Wizards true strength is their versatility. The best way to make use of that is to remain unspecialized.
Feats: Very important choices, these can have a great influence on your Wizard. One that I like, which is not often used by casters (I have no idea why) is Improved Initiative. When you're wearing a toga, have the physique of a bookworm and the fighting ability of a prepubescent goblin... being one of the first to decide your course of action can be VERY important. Dropping grease before that raging barbarian can charge, casting haste before the rest of the party acts (Thus getting the most benefit from it in the opening rounds) and various other situations make it a surprisingly useful feat.
Spell Choices: Another important area, especially early on when your funds are very limited. Color Spray is one of my favorite for a low level game. It can be decisive if cast in the right situations and is even useful still even in a one on one fight. It scales well through the earlier levels (Useful until around level 3 - 4, by which time you should have several other options to replace it with). Magic Missile is a good spell, but at 1st/2nd level, you will be lucky to get 2 - 3 off a day. That is okay, but not really much more useful than a crossbow. Color Spray (And Burning hands, as well as other spells) have an area of effect, making them more useful (And yes, more risky due to range/party members being in the area) in most situations. The first couple levels can be frustrating. Try to make sure you're creative enough with your spell useage to be more than a walking detect magic to the rest of the group.
And last but not least, the Familiar: Oh little familiar, how do I love thee. How do I hate thee? Familiars are a questionable class feature. They can be extremely useful if you are creative and the DM allows you to make use of the Familiar in various ways. They can scout ahead, get into areas that the party would have difficulty reaching, often are not noticed if moving through the proper environments. But if they die, it hurts. Not only that, it takes a full year IC before you can even try to replace them. Improved Familiar is a nice feat, it opens up new options for you to take with your familiar. But at the same time, it doesn't bypass the year requirement to replace a lost or released familiar. So if I am planning to take the improved familiar feat, I don't often take a familiar until that feat is used. It saves some of the headache. Also if you are going for a prestige class, most don't have the Familiar class feature, so your familiar will stop advancing at your last wizard level. Another thing for many to consider.
