When casting a spell involving a wand, is the wand considered to be a 'free hand', or is it considered to be an occupied hand? What I mean by this is if you have a wand in one hand and a sword in the other, can you still cast non-Psionic Arcane spells (that would normally require a free hand)?

I recall reading somewhere that you do not need an additional free hand when casting with a wand. But it might be the forthcoming errata (ie . not set in stone yet). Anyone remeber if Pedro ruled on this?

Just checked last official and last proposed errata. The line saying you don't need an additional free hand is in the proposed but not official errata. So it is there but not official until that errata is actually approved by the rest of the staff and released as such.