I know there have been a lot of these, but the most recent I've seen was in 2015. So here's my opinion of best schools.
1. . Death because it has attacks that hit everyone, then heal yourself. 2. . Ice because it has high high health, and with the right gear, traps, and blades its damage can be as high as storms damage. 3.. Life has good health, and good attack plus they heal, so life is a great class. 4.. Balance has moderate everything, but with high accuracy. 5.. The reason fire is so low on this list is because its DoT is strong in the beginning, then weak over time. 6.. Myth is similar to balance in the way its stats are moderate, but their damage is higher, but they have less accuracy. 7.. The reason storm is the worst (in my opinion) is because I've seen max storms with 4000 health. Sure they do a lot, but their health is so low they can't really solo much without dying over, and over.
Well, the most ideal or suitable school for one will depend on one's play style and personality. Hence why this is such an opinionated topic.
However, your thoughts seem to reflect how schools stood back when level 50 was the cap.
Many schools have evolved and developed unique mechanics to counter their weak areas and build on their strong. Notice I said many and not all.
Some of what you mentioned isn't ideally correct. Example, your thoughts on . "its DoT is strong in the beginning, then weak over time." -This only reflects spells such as Fire Dragon, but what about Rain of Fire? It's initial damage is weaker than it's Overtime.
Expert Diviners again for example are able to easily solo most instances without being defeated. Why? Because they do what I mentioned earlier about building on strengths and covering weaknesses. So, you'll find many of them not fizzling as often as they used to.
In considering best schools too, often times, many of them can be broken down into definite purposes of the task or goal at hand.
Actually I'd say Storm is the best for soloing, and in many ways is best at most aspects of PvE. What makes a school good for soloing is really when they get their AoE and how strong it is. Death has the weakest AoE and they get it really late, so they are not that good for soloing IMO.
Also for Storm you can get to 90%+ accuracy before level 40 pretty easily.
Storm gets its AoE a little late, but not too late and its so powerful its crazy.
Balance is the best school for teaming up IMO. Life has too much healing, whereas Balance has good enough healing, but also a lot of other stuff too. If you go Balance and get Tower Shields, Satyr, and Feint then you've got it all and also have enough power you can really still solo well and fast and also take on an attack role in teams if needed. Balance can even tank better than Ice IMO due to the shields. Also Balance gets it AoE way early which is nice, even though its weak, it's good enough until you get your second one.
So IMO Storm and Balance are the to "best" schools.
. Death because it has attacks that hit everyone, then heal yourself.
. Ice because it has high high health, and with the right gear, traps, and blades its damage can be as high as storms damage.
. Life has good health, and good attack plus they heal, so life is a great class.
. Balance has moderate everything, but with high accuracy. 
. The reason fire is so low on this list is because its DoT is strong in the beginning, then weak over time. 
. Myth is similar to balance in the way its stats are moderate, but their damage is higher, but they have less accuracy.
. The reason storm is the worst (in my opinion) is because I've seen max storms with 4000 health. Sure they do a lot, but their health is so low they can't really solo much without dying over, and over.
