Since I almost got 2k wits I must be able to answer this question for thee.
I myself have tons of Wizard skills and I mezmerise the creatures that when you flee from the do not give you any experience.
For example I always mezemrize the guy with the rifle in his hand and in astec I mezmerise the Warriors and in Hi Brasil I mezemrise the gladiator.
I avoid mezmerising creatures that can mezemrise you as well. For example the jaguar or the harpy.
I always flee from monsters like the "plague" since they do not drop anything I would use and when you flee from them they give you exp and you have a chance you will keep your quest and you get a chance to gain wits! For the same reason I also always avoid the Harpy. Or the Serpent, you could do the same with the Golem, eventho the Golem can drop the Crystal Gauntlet, correct me if I'm wrong tho. (Haven't found on yet, too bussy slaying Dragons :p)
Once I have used all my skills I mostly go to the court in order to dice since even with my amount of wits I still pick 1 or 2 wits from dicing.
Hope that helped.