LOL
No it's not.
You get far more "Hot Keyed" items in the quick access Favorites menu that you bring up by hitting the "Up" arrow than you ever could with an actual "Hotkeyed" directional pad. And the list isn't any more difficult to navigate unless you've got over 15 items Favorited.
This Favorites menu is a much better option IMO.
But no, the console user is not suffering at all.
I find the very idea hilarious.
Are you serious? It's an absolute chore playing as a mage on the 360. I'm playing one now as a matter of fact - and that is immediately after I had played an archer.
Playing an archer with Bow on 1, crossbow on 2 and equipping a sword and shield meant hardly ever having to pause the game at all. Playing a mage means having to use more than three set-ups so it's stop-start-stop-start. There's absolutely no fluency at all.
I'm not even sure you know what you are talking about. Have you ever used the d-pad while playing both a mage and a warrior? If you can't see there's a massive discrepancy in the quality of the combat between the two, then I don't know why you're posting in this topic.