Having played both wizard and sorcerer I would answer:
Melee classes can handle the DPS. CC and buffing is what arcanes do. Especially good wizard you get if you begin with sorcerer and TR to wizard. Of course, we all need firewall in Shadow Crypt but you don't need to be a sorcerer to cast it often enough. Also remember, that you probably spend most of the time above level 15 where melee classes start catching up with DPS.