The hat is the only thing that throws it off for me. If it wasnt made to look like metal/steel. then i would say okay. its a cloth looking thing and i could live with that. love the colors and the outfit in general though.
I'm not crazy about the shoulder thing. It throws off the balance of the character, so it isn't really practical. But the Wizard isn't supposed to be practical, so maybe that's not a bad thing. The Wizard is supposed to scream "I'M OBNOXIOUS, STUFFY, AND POWERFUL AND I DON'T CARE", so I guess it fits. The helmet looks awesome. It makes me think of a powerful demon, or of the fake Horazon, for some reason. Interesting, different. I won't mind this mixed in with some more plain and functional items.
I'm not keen on big tall helms like this. Just think practically about its physical limitations. What if you're exploring some dungeons with lots of low ceilings? Or even if you were in a serious melee someone would grab onto it. Same reason you'd wanna keep your hair short when fighting zombies.