Saruman in edain 4.0 has been weaken as all other heroes, I have no problem with that. But I think the price of 3000 is a little bit too high for him. My idea is that Saruman should play a role in the early game as a faction support, just like Sauron for Mordor.
I think you could borrow the idea from hero submod for 3.8.1. Make the first form of Saruman a support hero, with no powerful magic, but could promote economy, deceive the enemy(make all units in an area unable to attack), and give experience to uruk units and maybe some leadership or unlock some upgrades. (he could still fight and gain experience and level up, just not so powerful). After get the power "Saruman of many colors", we could return Saruman to the wizard tower and unlock an upgrade"rising of new power"(cost 2000 or so), Saruman will become the second form of same level(current version) and lose some disguise and economy promote abilities but gain all this powerful(well...relatively) magic