In 2e, I played a wizard who focused on the item spell and related transmutations (though he wasn't a specialist). He even created three or four custom, personalized versions of item, one of which was a higher level version that was effectively equivalent to casting permanency along with item. His shrunken items also took the form of a plaque/card with a picture of the item, rather than a cloth mini of the item.
Rarely, if ever did he cast direct damage effects. Instead, he was focused on preparation and unorthodox solutions to problems. He carried around several decks of cards that he'd gathered over time, and always seemed to have the right tool for a job (for clarification, the items were actually tracked, not some sort of kender bag). He had a stack of itemized hot meals that the party loved. The canopied feather beds were nice, too. But things like the battering ram, extra weapons, and (of all things) spare doors were really what won the day.
I would dare say that he was considered more important to the group than the artillery wizard. He was actually an elven wizard/thief, which added more utility, an actual chance to hit with a bow, and some framework for dealing with installing/removing various "nailed down" collectables (like the afforementioned doors).