Pros and Cons (on both sides) of Court Wizards?

A question becomes in this sort of saga what is the major theme. Is it the idea of being a Court Wizard, and having to deal with supernatural threats and mundane politics; or is it the idea of having to deal with what it means to be a Court Wizard in a Hermetic environment. Another question is how many players are playing magical characters, is it a circle of people or is it just one or two. Honestly, the issue becomes how much do you need to keep Mythic Europe looking like Mythic Europe or are you open to either rewinding the clock a few centuries or changing some major assumptions, like the existence of the Order of Hermes. It also matters how many players are in the game, since certain ideas really only work with like two or so.

I have this really interesting campaign idea with say two players, one playing the Gifted character and the other playing a mundane lord. The backstory of the universe is very much different, there is no Hermetic Order at this point, magic is a patchwork of competing traditions that work both with and against each other. Politically there is no central mundane authority, just a patchwork of kingdoms, duchies, baronies, and counties with rulers who are trying to get themselves promoted upward to make a name for themselves and conquer the known lands. The noble character starts off young, just learning how to lead and fight, coming into the authority as the campaign progresses. The magic character has a lot of magic potential, though at the start he has to hide his magic and doesn't really know what he is capable of. Over the years of campaign he will work out the secrets of his magic, and maybe even find ways to absorb the magical traditions he sees around him into a single, all-encompassing whole. In time, and with a lot of hardwork and patience, he could create Hermetic Magic and maybe even an order of magic, which would work to aid and support the kingdom that he himself has long supported. Campaign sagas could be based on dealing with the politics of mundane courts, and the magical traditions while also figuring out how to deal with the divine. It would have moments where facing and trying to defeat supernatural threats against self, ally, and kingdom could all occur. Investigation of ruins of old kingdoms and magical sites could lead to the discovery of new old knowledge and magical power. And yes, I know that this entire idea is similar to the Arthurian saga of Pendragon and the British TV show Merlin, I am fine with that cause the broad outline and concepts are intriguing and potentially quite fun, especially if the actual events that occur and are gamed are designed to be unique and different.