When I was ambushed, my opponent, evidently wielding the wand, had access to 4th level spells. However, with the wand equipped, I didn't see any new spell in my spellbook. Does the wand's power work only for the ambusher, and not the ambushee?
I never saw any new spells in my spellbook when I had the Wand equipped. But I loved the other benefits. That was a wonderful New Year's gift. I'm gonna really miss the Ox too. :-)