First off...I love your question, and after listening to a sermon by Paul Washer: "The Acropolis of the Christian Faith", (it deals with this exact question) I have come to believe it is the core of Christianity.
I don't think there needs to be a balance between the two. God's wrath and God's love (as demonstrated through the Cross) are two Christian truths that exist simultaneously.
God IS angry with the wicked everyday, and yet, He also justifies the wicked.
And , as Paul Washer points out, what takes the question even further is that, according to Proverbs 17:15...it is an abomination to justify the wicked.
So.. 1. God is angry with the wicked
2. He justifies the wicked (declares them righteous)
3. And it is an abomination to justify the wicked
As someone already pointed out, the Wrath of God is very much a judicial anger towards sin based upon His own character. He is Just. He is Righteous, therefore He hates all sin. The wrath of God is revealed from heaven against ALL unrighteousness. There is no getting around it...God MUST be angry with the wicked everyday, or He is not God.
But who are the wicked? Well, we know, because of the light of the New Testament, that the wicked are all those "outside of Christ". All those, not "in Christ" abide under the Wrath and Anger of God. (fearful thought if you really think about it)
Concerning the Love of God; it is true that we, who have been saved, do experience the love of the Father in, at times, a very real and tangible way. His love is shed abroad in our hearts, which causes us to even "feel" love for those who are lost. But I do not think we can define God's love (as demonstrated in the Cross) as some arbitrary "feeling" of love that He has for the wicked.
God so loved the world that He gave His only Son. For what purpose? To show us how much he really, really loves us? No.
He gave His only Son to be a propitiation for us. He who knew no sin, became sin and bore the Wrath of God for us. God poured out His Wrath and anger for the wicked upon His own Son. God became a man and dealt with the problem Himself.
Oh, the Glorious Gospel!
So...
1. God can still be angry with the wicked everyday because those outside of Christ still abide under the wrath of God (...he that believes not is condemned already...)
2. He can justify the wicked because, in His mercy, He chose to be the propitiation for us.
3. God is not an abomination because He did not pass over sin. In righteousness He judged sin in the Son. He is still a just and righteous Judge.
So the issue is not with God, but it is with men.
As Hebrews states:
For if we sin wilfully after that we have received the knowledge of the truth, there remaineth no more sacrifice for sins, But a certain fearful looking for of judgment and fiery indignation, which shall devour the adversaries. He that despised Moses' law died without mercy under two or three witnesses:
Of how much sorer punishment, suppose ye, shall he be thought worthy, who hath trodden under foot the Son of God, and hath counted the blood of the covenant, wherewith he was sanctified, an unholy thing, and hath done despite unto the Spirit of grace? For we know him that hath said, Vengeance belongeth unto me, I will recompense, saith the Lord. And again, The Lord shall judge his people. It is a fearful thing to fall into the hands of the living God.
If a man rejects the Love of God revealed through the cross, the only thing left for that man is judgment.