Wait, I just read your goal was to make a wizard die in 3-4 rounds of level appropriate combat. When I played with Burglary and Archaeology, boosting my level quite a bit, I died in (at most) 2 hits. Many times 1 hit and Meltdown. I guess this much penalty should not be, should it?
Not three to four rounds. Three to four hits, and that's being generous. Two-hit deaths if you're unlucky. Even one is supposed to be sub-optimal. Unless you tell me your full build, I can't give a good assessment, and gear matters as well. This was my first mod, and after plenty of tweaking I'm currently happy with where things stand. RW is like vampirism - one has to plan their build about it. Nevertheless, I've completed GRPD numerous times on vanilla+RW, so I know it can be done.