Wizard Skill list completed and confirmed at Blizzcon 2008. (Diablo Wiki)

Wizard’s skill trees are broken down into Storm Skills, Arcane Skills, and Conjuring Skills.

Storm Skills

• Charged Bolt Release a volley of three electric bolts that deal lightning damage to any enemies they hit.
• Thunderstruck Increases the critical hit chance of all lightning spells by 10%. Critical hits from lightning damage stun targets for 2 seconds.
• Empowered Magic Increases the effect of Willpower on your spell damage by 30%.
• Lightning Speed Increases the casting speed by 3%.
• Storm Armor Surround yourself in electrical energy. Electric bolts are automatically fired at all attackers for 1 to 8 damage.
• Frost Nova When cast, it causes a flurry of ice to expel from the Wizard in all directions, dealing Ice damage. It has a 25% chance of striking a critical hit, and critical hits freeze enemies solid.
• Deep Freeze Increases the critical hit chance of all cold spells by 5%. Critical hits from cold damage freeze targets.
• Power Armor Increases the damage dealt by your Storm Armor charged bolts by 10%.
• Static Charge Converts 5% of all damage taken into mana.
• Electrocute Electrocute fires lightning from the Wizard’s fingertips, electrocuting up to two of her enemies … a very fast spell, and if it strikes a critical hit it will stun enemies.
  
• Ray of Frost Project a beam of cold energy that deals 6 cold damage per second. Critical hits from cold damage freeze targets.
• Lethal Energy Increases the chance to score critical hits with melee and spell attacks by 5%.
• Improved Charged Bolt Increases the number of bolts of Charged Bolt by 1.
• Static Residue Enemies damaged by your lightning spells discharge an additional X lightning damage/second to nearby enemies for X seconds.
• Blizzard Rain down shards of ice on the targeted area, dealing X cold damage/second for X seconds.
• Storm Power Increases damage of all lightning and ice spells.
• Epic Storms Increases the area of effect size of Blizzard and the number of tornados created by Tornado.
• Shattering Ice Frozen targets take additional damage from all attacks while frozen.

Arcane Skills

• Magic Missile A straightforward skill, Magic Missile sends a bolt of purple energy at an enemy. Like most Arcane Spells, Magic Missile will silence an enemy if it strikes a critical hit. Besides the advantage of a number of other Passive Skills, Magic Missile can be powered up with Improved Magic Missile, shooting more Missiles and gaining more power with each skill point.
  
• Arcane Power Increases the damage dealt by all Arcane spells.
• Efficient Magics Lowers the mana cost of all spells by X%.
• Penetrating Spells Reduces the resistance of your targets to your spells by X%. Targets with negative resistance take additional damage from spells.
• Disintegrate Introduced in the trailer for the Wizard, Disintegrate is a spell that shoots a continuous beam of red energy through enemies, consuming mana all the while (similar to previous spells such as Inferno or Arctic Blast). However, unlike previous spells of this nature, Disintegrate actually grows more powerful for each target it passes through. Like all arcane spells, critical hits from Disintegrate silence a target for a base amount of 4 seconds.
  
• Wave of Force Project a wave of force outwards, repelling enemies and projectiles and dealing X damage.
• Arcane Armor While your Storm Armor, Stone Armor, Stone Skin or Temporal Armor spells are active, your armor is increased by X%.
• Arcane Weakness Enemies damaged by your Arcane spells are affected with Arcane Weakness, increasing damage taken by X% for X seconds.
• Arcane Speed Reduces the cooldown of all Arcane spells by X%.
• Arcane Orb An orb of pure energy explodes on contact, dealing X arcane damage to all enemies in the blast area.
• Slow Time Perhaps one of the most fascinating skills seen by the Wizard in her trailer, Slow Time was later elaborated upon on the official Diablo III website. Slow Time creates a bubble around the Wizard, and any opponent or enemy projectile that enters the bubbles slows down. A Wizard can then easily dodge attacks or take advantage of slowed opponents. In the trailer, a Wizard effectively uses Slow Time in tandem with Wave of Force, slowing a mass of projectiles and then reflecting them back at the users with their directions calculated by the new Havok physics engine. Although the effect looks formidable, but in actuality, it takes great practice to get all incoming projectiles to be reflected towards their origin.
  
• Aracane Distortion Enemies damaged by your arcane spells are slowed by X% for X seconds.
• Mana Recovery Enemies have a X% chance to drop a mana globe that returns X% of maximum mana when picked up.
• Improved Magic Missile Increases the number of missiles launched by Magic Missile by 1 and increases their damage by X%.
• Temporal Armor Surrounds the Wizard in a protective shell that stops all damage from an attack every X seconds. The shell dissipates after absorbing X attacks.
• Teleport Teleport to the selected location up to X feet away.
  
• Greater Mana Increases maximum mana by X%.
• Mana Burst Increases the damage of any spell cast from full mana by X%.
• Runic Might Increases the effects of all runes.

Conjuring Skills

• Spectral Blade Summons a spectral blade that strikes each enemy in front of the Wizard 3 times causing X physical damage with each hit.
• Spell Speed Increases the speed of your Magic Missile projectiles by X%.
• Weapon Mastery Increases physical damage done by all weapons by X.
• Damage Resistance Increases armor by X% and all resistances by X%.
• Stone Skin Shield yourself with rock and stone absorbing X damage. Lasts X seconds.
• Mirror Image Intended for Wizards who wish to either create decoys or who enjoy physical combat, Mirror Image is a great distraction either way. It can be empowered by Passive Skills to increase the vitality and duration of the images, although the normal duration for each is 8 seconds.
• Conjured Armor Magical armor surrounds the Wizard, increasing block chance by X%.
• Conjured Health Increases total health by X% and the health of your conjured images by X%.
• Meteor Storm Meteorites pelt the targeted region dealing X damage per second.
• Acid Cloud Drop a cloud of acid on the targeted area. Deals an initial X poison damage followed by X poison damage per second to enemies who remain in the area.
• Conjured Power Increases damage done by spells by X% for every 10 points of vitality.
• Conjured Duration Increases the duration of your Stone Skin and Acid Cloud spells by X seconds and duration of your Mirror Image images by X seconds.
• Improved Spectral Blade Increases the damage of Spectral Blade by X%.
• Hydra Creates a multi-headed beast that attacks your enemies with bolts of fire.
• Magic Weapon Imbue your weapon with magical energy, granting it increased damage.
• Magic Impact Increases damage of all spells by X% of your weapon damage.
• Slowing Strikes Enemies damaged by your melee attacks, Spectral Blade, or magic weapon have their movement speed reduced by X% and their attack speed reduced by X% for X seconds.
• Armor Piercing Enemies damaged by your melee attacks, Spectral Blade, or magic weapon have their movement speed reduced by X% and their attack speed reduced by X% for X seconds.