Traumatize is bad by itself, so it's not worth running just because you can 1 shot someone if you have out fraying sanity. As someone who had played mill in modern since the year of its inception, the most common thing I find myself telling new mill players is to cut traumatize. Even with pioneer having less obviously good cards, I would definitely be running Drownyard Secrets or Sphinxes Tutelage over it.
Private Mod Note
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Rollback Post to RevisionRollBack
"It's like some kind of Voltron... made of elephants??"
Credit goes to Brofoux for the Sig pic.
Current Modern Deck
Black Licorice
http://forums.mtgsalvation.com/showthread.php?p=11006564#post11006564