Welp, let's see. The only potentially unfair portion is that it lets you do touch attack-spells at range instead of in melee. Touch attack spells (that aren't buffs) are as follows:
0: Touch of Fatigue
1: Chill Touch, Shocking Grasp
2: Ghoul Touch, Touch of Idiocy
3: Dispelling Touch, Vampiric Touch
4: Toxic Weapon?
5: Huh, none of them.
That's... actually a lot less than I figured.
Anyway, Touch of fatigue at range doesn't seem terribly relevant. Touch of Idiocy is a little nicer to do without going up to stand in the wizard's face, but that doesn't seem too powerful.
The only one that's a little nice is dispelling touch from range - but it comes at the time when everyone else would have dispel magic.
That said, it really doesn't seem like it'd be any more powerful - just typical range v melee differences.