Losing a single life? Ignoring that that's not exactly a clause that helps make this card feel blue, it's a pitiable cost for something that is just and option. I'd straight remove the life payment option.

This was a straight transfer of a planeswalker signature draw spell. Was a BUG character.

That is an explanation. But does that mean you are happy about what the card is rather than was?

Asking the real questions aren't you. This card and many others will be changing but I'm going to sit on it for a bit until I can see this all clearly.

Well it does cost 5. Deep Analysis and Brain Geyser both suggest that's well within cost, even without the downside. With the downside; black gets to do this even cheaper.

Is it a spell you want at common? That's a better question.

The better comparison is Jace's Ingenuity, and the answer to Vitenka's question is unequivocally no.

For the cost/balance.

Compare: Compulsive Research, Enhanced Awareness/Sift.

I cn't believe I missed compulsive research. So yes, this card can be a bit cheaper; although "pay 2-life if you dind't draw a land" is quite the rewarding option to get that extra card.