Youre right, Pala's need +dps. But the Blade of Wizardry is definatly not AMong Tankadin, or DPS-adin weapons. A Tankadin would need a much heavier sword with way more Stamina, more damage, and either agility or defence rating, this sword is made for one thing and one thing a lone.

"Casting Ranged spells"

And even so, not a good sword at that, better to farm a Gladiator war staff