Pains Reward is pretty bad. It also feels even worse when your opponent D4's and gets a counterspell.
I was thinking more for your opponent playing aggro. I guess I was trying to find variants because triple black, while not hard for the deck, can be hard to come by if you can't get any off a D4. While I have been goldfishing, it seems to be hit and miss at times.
I have found slithermuse to be a bomb if i get him t1, but another unusual card i found to work rather well is pain's reward if early on, it becomes either d4 or a way to make tendrils a little less storm count. any thoughts?
i don't know if this was mentioned. but i feel like gitaxian probe deserves a place in the deck. free draw is always a plus for the deck especially if you can do it before you lose half your life.
Personally, I like the concept. Since you posted it in the "developing" section of the forum (therefore in an attempt to make it competitive, I assume), I'll post some suggestions regardless of what your budget is. Otherwise you should let your deck move to the "budget" subforum.
As for the deck, you should definitely run Ancient Tomb and/or City of Traitors. Along with Lotus Petal or Chrome Mox to cast your morph creatures on turn 1 or 2. Also the manabase could be improved by fetches and duals, obviously.
If you're in blue, you could as well run Force of Will and Brainstorm. Because otherwise, you won't be able to protect yourself against combo or to protect your creatures. To have more blue cards for FoW, Turn to Mist could be included. Mistmeadow Witch's ability seems too expensive, I don't think I would run it.
Show and Tell seems like a good plan B (or even plan A, for that matter) in this deck.
So if I would have to put something together, it would look like this:
I like your list quite a bit. The only problem I have with FoW in the deck is their aren't really enough blue spells to pitch. Brainstorm is good to setup draws and the landbase is a good land base. I think the agreement here though is definitely 4 cloudshift. I know show and tell is good. Don't get me wrong it is really really good. The only problem is that it gives your opponent an oppurtunity to cheat things in too.
So perusing through the internet I thought about making a deck abusing the idea of blinking, which is viable especially through the release of avacyn. Here is my decklist and ideas. A short run on how it plays after.
How about modern with it cards like selective memory or treasure hunt. Those find your cards. Or gifts ungiven as well to fetch up the combo's? These will easily remove the cards you don't want. so selective memory with up to 2 cards left that are spells, Treasure hunt to find another treasure hunt most likely then last spell is him. Play him? Maybe? I could see that being pretty good.
I was thinking more for your opponent playing aggro. I guess I was trying to find variants because triple black, while not hard for the deck, can be hard to come by if you can't get any off a D4. While I have been goldfishing, it seems to be hit and miss at times.
I like your list quite a bit. The only problem I have with FoW in the deck is their aren't really enough blue spells to pitch. Brainstorm is good to setup draws and the landbase is a good land base. I think the agreement here though is definitely 4 cloudshift. I know show and tell is good. Don't get me wrong it is really really good. The only problem is that it gives your opponent an oppurtunity to cheat things in too.
4x Akroma, Angel of Fury
2x Krosan Cloudscraper
4x Krosan Colossus
2x Liege of the Pit
4x Mistmeadow Witch
4x Rockshard Elemental
4x Cloudshift
4x Otherworldy Journey
4x Ghostly Flicker
13x Plains
4x Glacial Fortress
Basically you play the creatures for the 3 colorless mana and blink them in for their fattiness. Suggestions comments?