1 - Clerics do not get the martial weapon proficiencies. None. So that great axe is giving you a penalty to your attack, as your Cleric really doesn't know how to use it.
2 - That wand, while only doing 1d3+1 damage (or 2-4 points per hit), is an eternal wand. Meaning that it will slowly recharge over time, regaining it's use. That said, even without martial weapon proficiencies, a Cleric is a solid melee character, capable with a mace and shield. At early levels, you should be able to wade into combat without much difficulty. For what it's worth, I didn't take the wand on my first Cleric either, and had no need. For a Sorcerer or Wizard, take their wand. My Sorc still has hers at level 7.
3 - Cleric/Rogue mixes are difficult to do. Clerics only get 1 skill point per level, whereas you need Spot, Search, Disable Device, and Picklock for Rogues at minimum. Clerics also need Concentration. Plus Balance is very handy to have. For spot, Clerics have decent levels in the skill, plus have the spell Find Traps.
Stat points are also tight; to be effective at casting you need as high a Wisdom as you can get. You also REQUIRE at least 14 Constitution. For skill points you'll need Intelligence, and both Intelligence and Dexterity boost certain Rogue skills. Finally, if you want to be effective at turning undead, you'll need Charisma. For melee combat, Strength.
Needless to say, both skill points and stat points are rough. A Cleric/Rogue mix is definitely something only an experienced player should attempt. Most people who do mix Cleric with something else either take a level or two of Fighter, for Power Attack, Improved Critical: Weapon Type, and the free martial weapon feats; or Monk, for Wisdom mod to AC, unarmored AC bonus, and some other nifty Monk abilities. Monks, however, you have to buy.
A better class synergy is Wizard/Rogue. Wizards have to max their Intelligence, but that also affects Rogue skills and the number of skill points. Whats more, is Wizards have the Knock spell, which most of the time makes pick lock irrelevant. Trap skills are far more important to have.
Quite frankly, I'd stay pure class as a Cleric, as that is a class that benefits greatly from staying pure. All spell casting classes are most often best served by staying pure. Just play with a friendly Rogue, and you'll get every locked chest and hidden door in the game, while avoiding some nasty traps and getting bonus xp to boot.
4 - It won't take 7 years to earn 1000 favor, but it will take awhile. You just have to be ready to invest a lot of time playing, and be willing to run every quest on elite difficulty. And play more than once a week. I'm hit over 500 favor on two characters, and as anyone else in the Guild can tell you, I have altitis. I have 5 main characters in the guild, two more (one mule and one holding a name for later) out of the guild, and have created literally over a dozen characters in nearly every class (only Barbarian I haven't tried).