Yeah, i pretty sure it is possible, ive completed the game with a cleric/illusionist gnome

, though i have to admit i gave him some equipment from the start. Anyway, i think your party is ok, in Baldurs Gate mages arent as necessary as in BG2, steel is more important, so your party is pretty balanced IMHO.
And yeah, wands are very helpful, specially summoning and fire wands (fireballs are great), but dont waste them !
Luck !
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"Iīve been captured... and I donīt care" -Ertai, Captive of the Blinding Angel