A few people have suggested, through various media.

I think it was Lightmage, on Mavent's thread:

The Archmage of the Tower tells you "A young dragon, known to study the mana's weave of protection has been seeking to establish a lair east of Galadon."

The problem "we" would run into is the general difference between player's ability to solve certain hints. This example I gave is pretty easy, since you just have to go find a dragon, which are very unique and memorable mobs.

Perhaps it could work in conjunction with improved consider, and such, so that you could know that a transmuter, for example, either directly holds, or holds the key to your barrier wand. Or a demon. Or a sahuagin basket-weaver.

Perhaps the right level of concrete details plus vagueness could help give players a solid, honest lead that gives them hope and direction, but keep the locations from being too spoonfed and widely-known. Obviously, I don't know how many wand spots there are now, so I can't say how many of these hints would have to be generated and looked at, or how difficult it would be to judge what is a "good" hint, and what's a "bad" one.