So a couple times I've played balanced and not-so-balanced Savage World's characters. I played a guy in Deadlands who killed nearly 50 people with seven bullets. I played a character that started with all d4 and d6s. In our current run of TES IV: Oblivion, my character has +20 Charisma and she has a real chance to become the Empress or mantle Clavicus Vile, because I decapitated him while trying to steel (I ended up hacking his face off in the process so "steel" is appropriate) the mask off of his face. But while that's super-OP because the GM allowed me to do it (and half of the Charisma with the rules, legitimately), I'm talking OP because the rules let me do it without putting too much in anything. So ...remember that time I played Sub-Zero wannabe?
So in most RPGs unarmed attacks are pretty "meh", except the monk class from D&D really, but only at higher levels. But in Savage Worlds, I could literally and easily, and fairly above all. With no effort at all I could make my fist do a d6+d4+2, like it was nothing. And its lethal and considered armed. And that's with average strength.
So, where's the Wizard part. Well you also take magic.
For instance (with a little extra OP from the GM's house rules), I had my Nord Fist-Wizard able to make two attacks, or more, with a combination of edges. He allowed our gaunlets' toughness bonus to be used as extra damage, so as he was a replacement character he was able to make two fist attacks (damage at d10+d6+5) and a magic attack (usually the burst power) with no penalty. I even had another power that could add another 2 or 4 damage to my fists. That kind of damage was unparalleled in the party. I ended up never using him because I didn't want the GM to cry or roll more d12s at us (he only used d12s so I didn't feel that bad about exploiting his rules). I was rewarded a few sessions later when Mee-Hye got a magic katana that let me make 5 attacks in a turn and ignore armor. I nearly died getting it, but she could fly at double the rest of the characters' paces.
Fist-Wizard would have been as OP as the rest of the party, Mee-Hye just had Charisma.
I look forward to crushing GMs' encounters with the concept for many years to come.