The basic gameplan is to have low mana prowess/haste creatures like Monastery Swiftspear and Stormchaser Mage put early pressure on the opponent while Goblin Electromancer and Baral, Chief of Compliance create a platform for discounted token spamming (among other spells) with Hordeling Outburst, Krenko's Command, and/or Talrand's Invocation. A Dynacharge Overload is often the finisher with this deck and can end games on turn four when it is set up properly. In fact, over 30 damage by Turn 4 is possible, something that a deck like Burn simply can not pull off.
Although this deck is fast and shares some elements with full-on aggro decks like U/R Prowess, it would actually be better described as an aggressive tempo deck. It seeks to increase and leverage mana efficiency (Baral and Electromancer) and card advantage (Chart a Course, which can usually be cast for ) to maintain a more dangerous late-game board state than the opponent. It thrives on the offensive and actually has several different ways to deal 8-10 damage by turn 2, but this deck can just as easily hold its own in long, grindy matches by playing a slower, more tempo-focused game.
The mana base is strong enough that there is virtually never trouble creating Goblin Electromancer or Stormchaser Mage on turn two. Chart a Course and numerous scry opportunities help prevent the deck from stalling late game. This deck is able to win a lot of surprising matchups through its sheer efficiency. While one Goblin Electromancer or Baral, Chief of Compliance is on the battlefield, it can create three creatures for two mana (Hordeling Outburst), or draw two cards for one mana (Chart a Course). The deck has lots of scry opportunities, which helps to correct both early- and late-game land issues, including ditching extra land in late game if necessary. And importantly, it doesn't fall flat on it's face if it fails to combo out like some other popular Izzet decks like Storm and to a lesser extent U/R Prowess.
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Update
-2 Avaricious Dragon
-2 Magma Jet
-3 Mountain
+2 Baral, Chief of Compliance
+2 Lightning Bolt
+1 Talrand's Invocation
+2 Cascade Bluffs
The deck is now faster, more efficient, and more consistent.
The sideboard also contains a strong suite of countermagic that can generally be cast for , and allows for filtering when Baral is on the battlefield. This deck's post-board versatility helps to make it an unexpectedly difficult matchup for a broad spectrum of considerably more expensive decks.