Unlike other similar huge seven-casting cost flyers (Blizzard Elemental, anyone?), it gave you the mana on the turn you played it to save it
You may cast an instant or sorcery spell with equal or lesser mana value from your hand without paying its mana cost
You need to actually be playing blue which not every deck at lower tables is
It does have the downside of drawing your opponents up to a full grip, but its political applications and ability to dig the whole table deeper to find an answer makes it a powerful tool in the right hands
Since Rakdos plays so much self mill I can still count on Into the Story and Lullmage's Domination to cost less than retail
6 mana, below-average stats, and the need to invest further chunks of mana to do anything with it are all reasons to avoid this enchantment creature, though Ill admit its an aesthetically cool card