Wands: At the moment in ToEE, wands are a poor choice when compared to scrolls for every spell except Identify. They generally cost more XP and Gold than a stack of 20 scrolls, and (unlike scrolls) they don't cast at the level of their creator (as far as I can tell). I'm going to try giving all wands in my own games 50 charges, as the pricing formula used in ToEE is based off of that number. Scrolls: As Orion pointed out, scrolls are currently underpriced for higher level casters in ToEE; the gold and XP costs for scribing a scroll should increase with every level at which the spell is cast. That is currently not the case; your 9th level mage spends only 1 XP and 6 GP for his scroll of 5 magic missiles, the same price he paid for a scroll of 1 Magic Missile at level 1. OTOH, fixing this, if it can be fixed, would take a ton of work compared to just increasing the charges available to wands. How many people would want to see this fixed?
Wands & scrolls ought to work as they do in the PnP version. It used to be that wands could hold 100 charges, and were fully charged on creation. What was found as treasure was another matter entirely, and was subject to a die roll of 1-100 (2 d 10, 01-00). Scrolls should also reflect not only value as a function of spell level, but increased value for level of the scriber. A 12 die fireball scroll is worth a lot more than a 6 die fireball scroll. Scrolls found as treasure were always assumed to be scribed by someone of at least one level higher than the level required to cast the spell, and never less than 6th level. Thus, any magic missile scroll found as treasure gets the caster 3 missiles. Value is 100 experience points per level of the spell; and selling it gets 3 times as much for standard spells, 5 times as much for protection spells (because in the 1st Edition, these were usable by anyone). All this might be a tall order to modify, so my $.02 is do what you can to make it as good as possible...and bearing in mind that 3.05 rules are sure to be somewhat different. Example: The cost of crafting items and scribing scrolls is plainly set out in 3.5, but we used a set of house rules to govern the cost of crafting & scribing...mainly for balance. Otherwise, everyone would have been walking around with a Girdle of Storm Giant Strength and several scrolls of Wish.