I got through A1 solo in inferno, without going no HP lameness.
I did have to drop some Vit, though. Bottom line, it's not that useful as long as we have force armor. I think going no vit and full hp regen is lame though, but that's neither here nor there...
This is what I run -http://us.battle.net/d3/en/calculator/wizard#acOSXR!XUf!ccYYab
I recently switched magic wep rune from life steal to venom. Also just started using Magic missile + seeker (I find it having two arcane damage spells up there works well with temp flux passive - gonna try my luck soon with arcane hydra, even though venom is amazing).
Bottom line, Act 1 is pretty simple once you drop some health, gain some damage, and find the build that works for you. I'm up to 21k damage and about 15k hp, almost 4k armor, and I can cake walk Act 1 farm. Act 2 is a different beast, I'm busy getting owned right now by even some regular mobs.
EDIT: To above me; interesting note about slow resistances, I've noticed them before, but I'm going to try and swap out arcane slows for other things and see if that tightens up my A2 play at all, thanks :)