Light isn't the only magic.
Try fighting a dwarf with maxed-out Chaos skills and the Armageddon spell + elemental immunity runes.:D
I was playing as an Orc and somehow managed to defeat him after two Armageddons.
I personally don't like the dwarf mage. Because you're constantly dependent on luck - whether Fireball and Armageddon will be cast or not.
But in general, I agree that it's a very powerful build.