Kuresta wrote:
it's mostly useful for arcane mages specced into Arcane Meditation (30% regen while casting)
Indeed. It's also decent for longer lasting fights when you find yourself needing to save a pot cooldown for something else, so you put up Mage Armor instead of Molten armor. Though I haven't found a fight where this is an issue assuming you have a shadow priest, the mage armor thing is pretty nice on ZA bear runs and Hyjal AoEing to minimize downtime.
In WotLK, many classes are getting damage or healing scalability with Spirit. Mages, as of this point, are not one of them. We did at one time, however, have a talent that gave crit based on spirit. That would have been nice to see make it into WotLK live.