I totally agree with that. However, I was talking about a pure caster mage - one who barely gets his BD stack to attack and hammers the enemy with spells. In such case you will kill with spells and that does not generate any mana back.
If you do have a nice stack of BD's, they are great for mopping up weakened enemy units and in such case, Transmutation is really nice. In that particular game I was referring to, I had only 1 available, and he alone wasn't doing much, so I had to compensate with Concentration rather than Transmutation.
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