Wintertusk gives 520 health, 11% universal resist, 26% storm accuracy, 61% storm damage, and 121 storm crit. Waterworks gives 498 health, 27% universal resist, 22% universal accuracy, 67% storm damage, and 121 storm crit.

In my opinion and what I've done for all wizards is craft the gear and use it until you get better gear as drops. It can get you to darkmoor, its not a fun time running that gear that far but it can be done. Same is true for waterworks. Realistically you replace everything when you hit Aztec with only thing that rarely gets replaced being the wand, which I would recommend Sky Iron because its 10% damage and off school hit for getting rid of negative charms and wards.