Yes, agreed. When I made my homebrew version for RMU, I leaned more towards the RM2 version, but tried to make him more balanced (e.g. he has to choose one element to specialize in, rather than getting every good elemental attack spell on a single list).
Here's my take, with a brief history of the class and discussion of the archetype:
https://www.rolemasterblog.com/the-warrior-mage-for-rmu-homebrew-spells-skill-costs-and-discussion/