I bought this guitar about a year ago. Here is my experience.
Pros:
This is a well-made instrument, I didn't find any flaws when I took it out of the box. It is light and balanced (no neck dive or something like this). The Wizard III neck is very comfortable to play (even though I am not a fan of thin necks). Of course, it should be mentioned, that this is a very affordable neck-through guitar. So, if you ever wanted to get that kind of guitar (like me), this Ibanez is a good option. It looks very aggressive and metal.
Cons:
The tuners are not very precise. I mean they do the job. But if you need to tune the guitar up, sometimes it is difficult to get the note quickly, and the tuner should be turned back and forth several times.
The "weathered" finish is very thin and fragile. I already have a few chips in the finish over the instrument, mostly on the edges (I treated it very carefully, didn't gig with it, used only at home). The guitar is getting the relic look pretty fast.
I use this guitar mostly in drop C#/C tunings with distortion, and it sounds fine. I also tried drop B, but the guitar sounded muddy (probably, it was too low for stock pickups). Also, I am not very happy with clean sound (even in coil-split mode), for me, it lacks harmonics. Maybe I'll swap pickups in the future (and tuners too).
All in all, the guitar is very decent, especially for the price. I like it and not going to get rid of it.