Daggers aren't ammunition. Arrows are technically supposed to be kept track of, but it's just a nuisance outside of survival games like Dark Sun. At this point, you're just ignoring the rules because you want to arbitrarily restrict a wizard. And if I am playing in Dark Sun... why wouldn't all Dark Sun casters have Eschew Materials? Did your DM ban it? Fine, one in five Templars is out of spell components. And I'm playing a psion.
Except that doesn't work. It specifically only works for spell components. Also, infinite shurikens don't make you tier 4, let alone tier 1.
As for your complaints about not following xp costs... take a good look at the list and amount of spells with xp costs. That's what, Wish, Permanency, and Gate-for-summons? Besides, in D&D, by following the WBL guidelines (which you really should. Yes, even in Dark Sun. The game gets even more in favor of the casters when your fighter is deprived Winged Boots and a magic sword at 5th level), money is no object. And XP is a river.
Unless you decide to actually start following the RAW rather than complaining about how the rules aren't hardcore-survival enough (if Fireball requires me to seek out rare materials, I'll start using spells that are more effective, and have no expendable components, or at least easily found ones, like Summon Monster and Sleet Storm), I'm not going to take your arguments as valid reason to change tiers of casters.