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When I used Rage, I had a vague suspicion that it only increases damage on paper, and in reality, there was no effect at all. Maybe it's been fixed by now – I don't know.
BERSERK
What's the point of Berserk? Let's say, your units attack your own + the enemy loses a turn. BUT. If I remember correctly, Berserk is removed by an attack from an enchanted monster. And even the AI doesn't use this trick. Result: the spell is wasted. Instead, you could cast Blindness/Petrification/Time Trap and immobilize the monster for 3-4 turns.
Lightning and Chain Lightning
In addition to the high cost, I'll add that the stunning effect only reduces initiative, and doesn't force the enemy to skip turns. Therefore, these spells won't bring about a quick death.
Arrow Rain
Also a waste of mana and turns. Many archers can shoot without a penalty anyway. And this spell only makes sense when you have a huge number of archers, at the expense of melee warriors.
And there is no equivalent for increasing magical defense (Fire Shield) in other magic schools.
I've never seen the point of this spell, even back in Heroes 3.
I don't respect attacking magic at all. It helps a little in the early stages, but in the middle of the game, it becomes a waste to spend turns on it when you can use high-level spells. At this point, the power of attacking spells is so insignificant compared to the size of the armies clashing on the battlefield...