Great deck! I love it. I can not get enough of Mardu Skullhunter. It's one of my favourite commons. Using it with Quickling, Void Snare, and Peel from Reality is devious. Nice one.

I would definitely put in some Black Cat , and maybe a couple of Ordeal of Erebos - another way to beef up the Triton and a little more discard when it pops. Choices Choices is my take on a Waste Not deck - no where near as fast as yours.

I also have to agree with Recklesspong - using Quickling, Void Snare, and Peel from Reality with the Skullhunter is devious as all hell!

+1

you are running only two colors, I don't think Mana Confluence is a necessity. A good card to add could be Jace, the Living Guildpact for his -3 bounce ability, and his +1 to power Nighthowler and feed Dig Through Time

You need 19 black mana sources to have in play for Hero's Downfall by turn three. Since you only run two Hero's, I would try to get your black mana pool to the 14-16 sources range.

Your mana base is a little low to run seven 3-drops and four 5-drops. I recommend at least 21 lands, maybe 22. I would go -1 Quickling and -1 Despise.

Let us know how the deck performs for you. +1 from me.

You'd really have to mulligan hard for Waste Not. If that's not out the deck becomes a bit dodgier IMO. I second Mind Rot as being a good card here.