The idea here is to counter some popular aggro builds by maintaining enough control to ramp my creatures by milling. Mill and kill are both viable win conditions, though mainboard is a little more kill-oriented.
Some reasoning:
Paranoid Delusions should combo excellently with Phantasms that come out on turn 1, and cipher to mill 6 cards by turn 2.
Shamans are my alternative opener, with a chance to pop my mana up a little or do a little damage further down the road with all the stuff I will mill with mind grinding and sculpting.
Thought Scour should help out by getting 2 cards in the graveyard at little expense to me - this could make the difference in the Wights handling 1/1s or 2/2s early on.
Wights and Aberrations get absurd really quickly if a Mind Grind goes off with 2 - 3 mana to back it up. Artful dodge lets those guys bypass weenies, walls, or bigger bads (if they even exist).
Desecration Demon and Fog Banks are excellent walls and can cover a lot of stuff, and DD backed up with a little control is a win condition itself.
Sideboard adds crazy mill with Crypt Ghast + Mind Grind. Sideboard also includes a lot more control for creature-focused decks with various approaches: sacrificing, target kill, and even delays.
I used to run Black Cats and Drainpipe Vermin to do some hilarious early (2-3 mana) hand-hate, but opted out of them for now in favor of more aggro Phantasms and Shamans (which should be excellent with mill).
