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Obviously, either is more powerful that other spellcasters from BtS, NS, DR, or N&SS. But how do they compare to each other?

The HU Wizard gets more and higher-level spells to start, some pseudo-psionic powers, and the ability to get a familiar. It also gets an easier set methods to learn more spell when leveling up. A lot of what's normally Lore skills are OCC abilities. But it starts with less PPE and gains less per level. The HU Wizard is supposed to be a master of his class.

The PF Wizard gets fewer and lower-level spells, but has a minimum number that are common to all wizards. It has knowledge of circles, wards and power words, as well some specific recognition of magic paraphenalia. It starts with more PPE and gains more per level. The PF Wizard is supposed to have just finished his apprenticeship and starting out in his class.

Skills seem about equivalent, as to magical bonuses.

I'm really not sure which could be considered more powerful. Opinions?

If i was going to be a mage being thrown into the world of rifts I would rather be a HU mage. Those higher level spells would help out more than having more PPE. Along with that there would be less culture shock to go along with the transfer.