Don't get fixated on niches.
Gandalf was only a part mage. He was also a fierce combatant. Also Middle Earth settings has no clear distinction between class and race (mortal men could never rise to Gandalf's power there).
As for Merlin - he was a utility mage. That's legit, but shouldn't be imposed.
OTOH, I totally agree that D&D spellcasters are way too powerful in combat and have too many offensive options.
This seems like a decent baseline for level of power to start from.
Being somewhat familiar with eftexar's power-level preferences, I suggested the spell-knowledge repertoire given there, but I'd personally give it a bit more.
I'd also make each Esoteric Academia grant a free spell that doesn't count toward the Spells-Known limit.
I'd also allow trading Infusion feats for spells, so that players that prefer versatility over raw power could also have their way.
Lastly, I prefer an hourly mana-pool recovery (even if partial), since it's very thematic that a mage needs to rest after concentrated spell effort before s/he can make another concentrated spell effort (and I strongly oppose the 15-min-workday approach).