Though if there's a 5-book cap, I don't see why any of us would need the Monster Manual unless we're playing some weird subrace, so that frees up a slot for Spell Compendium anyways. Though the lack of the MIC is indeed going to hurt, a lot, especially at low levels like this. I'd have to decide between CArcane and MIC in that case.
And for iconic magic...Magic Missile is an iconic spell of the Wizard class in general, thanks to Dead Ale Wives. For all that it's an Evocation spell, I wouldn't call it or Burning Hands signature evoker magics...they just happen to be Evocations like every other spell in the school. You don't have people making bad LARP videos where they throw pebbles and shout BURNING HANDS!, after all.