I think this balance thing is simply people arguing more over why their favorite class should the biggest baddest tough guy around.
I'm sorry you think that. I'm pretty sure that view is not supported well by what folks are saying here.
Kirk wasn't very intelligent, but was very intuitive. Spock was very intelligent, but not all that intuitive. Together, they compensated for each others weaknesses, and that made them an unbeatable team.
Ah, but you see, if you watched Trek, you'd know - in the third season, there were a hole bunch of episodes where you didn't really need Kirk or McCoy or Scotty. Spock was so super-special that he had all the answers.
"Mr. Spock, don't Vulcans have the ability levitate, juggle three balls behind their back, and do time-travel calculations in their head while blindfolded?"
"Yes, Captain, but it takes intense concentration."
*Poof!*
"Well, I guess it wasn't all that much concentration after all..."
That's the sort of thing some folks here are talking about. At low levels, the wizard had maybe a couple of spells a day, and then had to wait out being bored while the fighters hacked things to bits for the rest of the day. At high levels, the roles reversed, and the fighters tended to stand around while the wizards blasted things to bits. That's a problem, as some folks end up bored.
We didn't need no stinking balance.
Well, no, you don't need it. But you didn't need a +5 Holy Avenger, either. Doesn't mean you don't want it, or that it isn't nice to have.

Actually never noticed a real balance issue as we played either, course we weren't looking for balance just fun.
Well we never had any problems in 1e even up to and beyond 15th level. It all just seemed to be balanced and just work really well.
As above - you don't need the rules to be balanced to have the game play well. A good GM can have Superman and Indiana Jones in the same game, and have the players of both feel like they've both played major roles and had a good time. But, it takes more work or effort on the GM's part.