It's very underwhelming. You end up with 7d6 sneak attack and BAB+11. A pure rogue with Use Magic Device[Wand[Wraithstrike]] has 9d6 sneak attack and BAB+15. The build I sent ends up with BAB+20, Sneak attack +20+15d6 with Arcane Strike adding in another +9 to hit and 9d4. Furthermore, you can almost always get your SA to land via Adaptable Flanker, Penetrating Strike, and Golem/Vine/Grave Strike.
The attack bonus matters despite Wraithstrike, because your 3rd iterative is at -10 and your 4th (if you have one) is at -15.