There was a Three Wishes Ring in the Dungeons
and Dragons universe, and it's often considered
one of the best items in the entire game. I'm
not sure that its Magic counterpart is destined
for that same accolade, as Magic players tend to
be much more concerned about mana costs than D&D
players are about long, bizarre quests. Such a
judgment is perhaps slightly harsh on this Ring;
it's still a Planar Portal-style tutor spell for
colors that don't traditionally have such
things, and it's a decent way to assemble
late-game combos for formats like Commander.
Just don't wish to be powerful. Rod Serling
showed us how that doesn't end well!