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I suppose that can be true but the fact is you see a lot more level 4 wizards than their CC lord counterparts for virtually every army that exists

Buffs and debuffs generally provide a lot more combat res than a few attacks, and I think murdering entire units with spells also tends to win combats before they even need to be fought

I don't know of any good armies that take CC Lords over level 4 wizards.. There is most likely a reason for this that trumps 1 or 2 points of combat res

Daemons will do it, sort-of. (Great Unclean Ones)

And Dwarves will do their equivalent of it sometimes (taking 2 or more Runesmiths and no Runelords).

But yeah, it's far more common to see level 4 lord wizards than lord combat characters.