Build 1: 'Disintegreat' aka 'Press R-click to Win.' Usable at level 35, this build focuses on Disintegrate's amazing AOE power.
Magic weapon gives a 15% DPS boost, storm armor and diamond skin both provide protection and cut the Arcane Power cost of the sweet lazur beam.
For single-bosses, simply switch 'glass cannon' to 'cold blooded' and disintegreat to cold ray, and it's quite viable. Possible upgrade runes are Disintegreat's volatility at 39 and frost nova's bone chill at 51. Swapping frost nova for blizzard or slow time are also quite acceptable.
Build 2: 'Free Attack is Best Attack.' This build skips Arcane Power as a damage source and instead focuses on crazy sustainability and crowd control. In this particular version, Blizzard is used to snare the enemy group, allowing for easy targeting by Electrocute and damage avoidance.
Build 3: 'Up Close and Personal.' This close range, durable build is a huge change from the normal wizard tactic of 'omg stay away.' Arcane orb is now a 'fire and forget' shield spell, the explosion aoe can be instantly triggered for more close-range burst DPS, and your health regen is massively increased.
The build is not as 'bursty' as one focused on disintegrate or cold beam, but turns you into a close up powerhouse. Since variety is the spice of life, you may enjoy trying this interesting alternative build.
Build 4: 'Ice, Ice, Baby.' This chilling build uses high defensive power and lots of escapes to keep you alive while you demolish elites, uniques, and bosses. The downside of this build is that you will have difficulty soloing. It's really a build you would only want to use in a group.
