And that combo right there I believe is why I saw some really nice mana efficiency when I went from Fire to Arcane. I don't have enough +damage to see a vast difference between long term Fire and Arcane DPS, so it made my shallow mana pool a bit more viable.
Of course, I've never raided anything outside of Kara twice (my work schedule being what it is) but I had a lot of problems even trying to keep myself from going OOM on some heroics. I saw some damage bumps and a definite increase in my longevity from switching to an arcane build.
I also found the play style to be more fun trying to weave in and out of clearcasting procs as opposed to falling asleep on the 3 button (my fireball).