Here's a comparison of the different builds:
Magic BladePros:Fantastic tank. On par with Paladin(Aggro management+survivability)
Easy to solo with
Good without expensive gear(out damages AA if both have bad/average gear)
Easy to level
Cons:DPS potential just isn't there
People get confused with Enchanters tanking
AA BuildPros:Great fast soloer
Flashy
High damage
High Survivability
Easy Leveling(at least definitely with gear lol)
Cons:Expensive
Expensive
Expensive
Does horrible without good gear
Aggro management isn't as great(you are more of a DPS instead of a tank)
Expensive
Hybrid BuildPros:Can fall back on Magic Blade spam somewhat when needed
Can solo decently with good tactics
Versatile
Cons:Very Expensive, as you are gonna want some of both sets of equips for Mblade and AA
Excels at neither AA or Mblade. You will be outclassed by the pure builds in W/E you do
Bad Aggro Management(auto attacks get in the way of Mblade spam)
Here's your questions:
1) A: AA wins on damage by a lot if geared, Mblade wins if not. B: Mblade wins survivability hands down, but AA is good as well. C: Both are great long term, just depends if you want to tank and solo or DPS and solo.
2) Mblade build is INT VIT DEX, DEX being at least 240 by level 220. Auto Build is INT AGI DEX VIT or some variation of that. 256 INT before any other stat is pretty much always the best route to go on any Mage that isn't a Monk.
3) There's tons of different AA gear and different elemental setups so I'm not gonna go into that as I don't know the most about it. Mblade best DPS set is something like this:
Sauro Astel or Dia Espada with Kaiser 2
Reckless Tarna/Isurugi/Mezza/Ushilith(pick whichever)
Heinrich Mail UP Moldus
Special Equip Slot with Mezza
Requires -1 sec skill delay from other sources(Cheltil Al Crysta, QC Abilities, Maelriel Al crysta)
Best Tank Set(for maximum survivability):
Wound Trance HP 20%
Ideasol HP 20%(Unless Fire Boss)
Dragon Mail UP HP 20%
Myrica Wristlet HP 20%(or w/e the Christmas xtal that is 40% HP) or Myrica Wristlet Ns
Again requires same -1 sec skill delay from other sources(see DPS set)
Also I run with a Currone in my Dragon Mail as it just isn't necessary for me to have an HP 20 there anymore(I have 340 VIT so far)
Your current gear is AA gear. Also I would recommend just playing as a normal Wiz/Like a Hwiz until 140 as the Enchanter playstyle does badly until then.