Its a wonderful card on Turn 2 that gives you much-needed card selection in the early-game, acts as a ramp spell in the mid-game when you transform it to allow you to get ahead or keep up with the opponent, and then buries your opponent in card advantage in the late-game
A 1-drop red mana dork is unprecedented, even if it only helps you to cast equipment cards
Pulling them off isnt easy, but thats what makes them fun
Check with your friends if you have any concerns, but most people wont mind
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Its competition thus far has been light, so it's higher up on the list than it really should be