I've actually been playing such a deck for a while. I had better luck playing it as an aggro/control over the purely control. rift watchers belong in the board. I ran at least 8 burn spells main deck (in my case, incinerate and rift bolt), and prismatic lens+2 islands to take care of the flashback on momentary blink. I also ran 4 terramorphic expanse in the deck, as you've precious little to do t1 anyway. the whitemane lions were a little excessive, but 3 or 4 stonecloakers make good offense and a little good graveyard hate. I know the deck sounds pretty budget, but it works very well. If you're still interested, I'll dig up a decklist later.
--Welt