The wand is fine as it is - it adds an element of danger to zap-identifying wands, especially in a dungeon with tight corridors and small rooms.
Precisely why zap-identifying wands should only be done in large rooms or preferably in the open levels. Takes away the element of danger ENTIRELY.
Pointless feature that brings nothing to the game save for another bothersome situation, but of course vengeful guardians of tedious and annoying will defend it until dying breath.
As for their usefulness it is marginal at best. Draining them with mana battery is yet another thing that can be done with any wand, same as polymorph.
Going further with your line of thought, every item in the game is useful, since every pair of even gauntlets of peace can be sold for 1gp or used as a projectile for a whopping 1d3-2 damage etc.
Wrong thinking. Just like the gauntlets, wand of ball lightning is not only useless, it's harmful.
Solution to this could be very simple - when cursed it explodes like lightning ball, including the square on which the player stands.
When uncursed it would function as it does right now (most common state so you should be happy)
Blessed could produce lightning ball effect without damaging the PC or inventory/equipment.
There, all bases covered. But of course you will disagree, I know :P
or zap them and hope for a good roll on a desperate emergency situation
That wand is the last thing I would touch in emergency situation, since it has such a tremendous potential to make matters even worse. Indeed, I have tried that only once in my entire adom career and I will never make that mistake again.
Note that I would not be opposed to add a new item called "wand of lightning balls" that has the same effect as the spell, in hopes the player will mix them up. :D
Trying hard to make lives of adom players as miserable as humanly possible... you're just plain mean :P you're one of those guardians I mentioned above.