I am sure everyone has seen by now threads suggesting that Arcane Bolt is not worth the spell points required to buy it. Doubtless there are reasons that my noobishness makes me unable to see, but it was the following math that got me interested in the enhancement:
Arcane Bolt costs 50 spell points to buy and 1 spell point per use. It does 1d6/level of force damage. So, my 10th-level Wizard does 10d6 damage with each use.
Lighting Bolt does the same sort of damage, 1d3+3 damage/level, so the same wizard does the same 10d3 + 30 damage with each casting. Lighting Bolt costs 15 sp/casting.
As we know, metamagic feats do not work with Arcane Bolt but do with Lightning Bolt, so a one-time casting is not a far comparison. of course a Maximized Lighting Bolt doing 30+30=60 damage for 15 + 16 = 31 sp/use is not fair.
(Maximze costs 25, and I was assuming that 2 levels of Improved Maximize reduces that cost by 3 + 6 = 9 points, so if it is only by 6 then of course the spell costs more).
So, let us see how many time we can cast Maximized Lightning Bolt for the same cost as 20 castings of Arcane Bolt. That would be 50 (for the base cost of the enhancement) + 20 sp/use = 70 spell points. 31/70 = 2.2, but we can round to 3 castings.
20 castings of Asrcane Bolt (this is a 10th level wizard) do a minumum of 10 points, a maximum of 60 points, and an average of 30 points each. So, 20 uses would be 200 points minimum, 1200 points maximum, and 600 points on average.
3 castings of Maximized Lighting Bolt does 3 x 60 damage = 180 damage.
Of course, that requires hitting at least 6 times with an Arcane Bolt to match the Lightning Bolt, which may not always be possible when playing solo, and of course there are area-of-effect spells that are more effective against groups, but this easily replaces melee weapons in most situations for me if I have some meatshields to hit things when monsters come charging at me. I can always jump around and shoot off Arcane Bolts if need be.
So, again... I am probably missing something, but this looked attractive enough to me to my noobish brain to want to spec my wizard in this way.