So, from what I can see the Theurge is exactly the same, with exactly the same problems.
The Wizard gets the cleric's capstone first, because the beloved servant of the Gods is less beloved than the wizard I guess (Really, it's because of the spacing of the subclasses, wizards have all their own stuff going on 17-20 so their subclasses end at 14, but it is still bad design)
In a High magic setting like Faerun, the "trade off" of learning cleric spells instead of wizard ones could be non-existant, because the Wizard can just learn by buying new spells or copying from another wizard's book while using their level ups to pick the cleric clean.
And the cardinal sin, it is boring. All your abilities are the same abilities as another class, you just happen to also be a wizard.
Now, Warmagic is new.
First thing I notice, War Mages are the best at Concentration checks. Concentration checks are Constitution saving throws so Arcane Deflection and Durable Magic both apply, giving them a +6 to the check before con mod and war caster get brought into the mix.
The potential for +4 AC isn't bad either to avoid the hit in the first place.
Tactical Wit makes some sense, so why not.
Power Surge I'm not sure about. It seems very good, once per short rest your AOE spell is counted as 2 levels higher, which could be devastating as an opening move.
Again though, this is a bit boring. Better AC and saves are nice, more damage is okay, but these don't really change the nature of the beast like other traditions do, so I'm not sure if War Mage is worth taking over Bladesinger or Evoker, or really anything else.
I am glad it seems that the Lore Wizard is either gone or being heavily edited though.
