I say again, I just dislike the rule. A a touch spell as a non-threat makes little sense, but couple it with the touch AC and effects that deal direct damage or simply inflict a state (like Death Touch) and I think it's too much. Just my personal opinion, and that's in D&D.
In Conan, the spells are even scarier.
What I'd have done if it were me designing the system is make touch range spells a series of feats so that they can be delivered at later levels, plus I'd increase the number of ranged spells at lower levels, damage causing or otherwise. There were a lot taht got left out of 3.5 D&D that could have stayed, but for the focus on touch range attacks (IMNSHO).
Conan is a different story altogether. When sorcerer's can pull out your heart at 20 paces, touch range is almost a moot point. (lol)