I currently play an epic-level PsiWar, and I can't recommend the class enough. You don't hit quite as hard as an equivalent-leveled fighter, but you make up for it in versatlity. As a back-up fighter, you can really shine - you have the ability to do almost everything the main fighter would do if he wasn't tied up in his role. Throw in a spiked chain, and you can really support the main fighter with interesting-but-often ignored options like tripping and disarming.
Where you really distinguish yourself, though, is in the power selection. There are a couple of natural specialties in the power list - the natural attack tree, for example. (At 20th level, 7+ attacks each round, all near your full BAB (-5 standard, -2 if you take Multiattack - which you will qualify for with Claws of the Beast and Bite of the Wolf active.) PsiWars also make surprisingly good tanks - my psiwar's AC maxes out around 90 or so, has immunity to mind-affecting effects, freedom of movement, energy resistance 30, full concealment, and saves of +28/+28/+29. Some of that comes from items, but the vast majority comes from my own powers.
It's a two-edged sword, though. Though you don't have to spend as much gold on defenses as a standard fighter, you're also very vulnerable to a dispel. Without all my PsiWar buffs, my AC drops down below 30, and my saves drop by more than 5 each. Add in the fact that you won't have enough PP's to completely rebuff yourself if you lose everything, and wizards with Dispel Magic are your most hated enemy.
Still, it's a fun class, and being able to pull off things like a fully augmented, area-effect
Empathic Transfer, Hostile, or hit on a full power attack, fully augmented
Psionic Lion's Charge with Deep Impact... moments like those are what make the class.
Incidentally, the item you should drool over is a
keen mindfeeder weapon... crits will make you a very happy PsiWar.
Edit: With regards to your proposed build, I have just a couple of suggestions. First off, put your natural 16 into Wis. It doesn't matter so much in the beginning, but as you level up you'll start feeling the lack of power points very acutely. Long-term, it'll matter more than the +1 to hit/+2 damage you'll get from the higher strength. I'd also recommend strongly against dipping into fighter for more than one or two levels. Too many fighter levels cut down on your manifester level, which is important beyond access to powers and power points. Manifester level affects your augmentation cap, as well as your resistance to being dispelled (along with SR penetration, but most PsiWar powers aren't really affected by SR).
Featwise, you see a bit light on psionic feats. I'd drop Combat Reflexes in favor of a feat like Psionic Body, or possibly Power Attack. Definitely get Deep Impact as soon as you can - it's perfect for those situations when you can only get one attack in, and it has to hurt. Rapid Metabolism, it really depends on the campaign itself. In a slower-paced game with little magical healing, it's a pretty good feat. If you play in a faster-paced game where the presence of a cleric means you don't have to worry about starting the day with less-than-full hp, it's largely redundant. I'd recommend looking at Extend Power at some point, but in the beginning levels, durations are so low that it's mostly ineffective. Psionic Body is excellent if you end up with lots of psionic feats. Overchannel/Talented are a good combination - most of the PsiWar powers you'd want to augment (Inertial Armor, Force Screen, Defensive/Offensive Precognition, Offensive Prescience, Thicken Skin, to name a few) are 3rd level or lower, meaning you could augment as though three levels higher with no penalty.
