Eternal Wands and Minor Schemas aren't consumables and redeem the class in such a scenario.
Level 1 you're stuck using weapon infusion: bane, but starting at level 2 you're gonna be using spell storing infusion. (unless you're a warforged with the broken sublevels, then you start with wizard casting)
Level 3 is when things pick up due to wondrous item. Artificer is in heaven in a custom item rules game regardless of consumables.
Level 6 is eternal wands. Metamagic spell trigger level 7 with eternal wands isn't great, as you can max use +1 metamagic. What is great is metamagic item infusion with eternal wands (which you already have). You wind up not getting divine spells with eternal wands however, unless you use cheesy excuses. Also eternal wands suffer from locked caster levels and max spell level 3. However, that's good enough to carry you to level 12 with 8th level spell storing giving you 4th level spells.
Level 12 (10 if you give the feat for free like you should), you get etch minor schema, which is a game changer. It will allow the artificer to use metamagic spell completion and metamagic scroll infusion to great effect. Unfortunately, the limiting factor on schemas is focus and material costs. The spell can't have any high cost (over 1gp) components/focus. Schemas can only be of level 6 spells/infusions, but from any list. This is all you need to play with the big boys pre-epic because of cheap/free metamagic.
From my own experience playing the game, it would be only slightly harder to play without scrolls and very difficult to play without wands. That said, artificer is still going to be a T1 class. The often ignored infusions replicate and surpass many of the best rated spells, especially weapon and armor augments. This is true in the low levels, with the only limitation being oil costs. The ability to have more magic items makes up for most of the weaknesses of the class. You won't be getting 7th, 8th, and 9th level spells unless they're lower on other lists. Luckily there are a few that fit that criterion.
If you are doing away with eternal wands and minor schemas, the class is still playable and still T-1. The reason, as mentioned earlier, is custom items. Now, if you don't allow custom items, the class is still T-1 due to the ability to get immunity to everything through items and infusions. That's not something a run of the mill sorcerer or psion can do. Of course, that's going to be extremely boring to play imho. Only a disjunction is going to slow you down, but it would have anyway.