This card is instant-speed card draw and deck manipulation. It may only net you one card, but it can swap out 2 cards that you don't need at just the right time.
It's a counterspell. 'Nuff said.
Back to Basics
This one's only a necessary inclusion in mono-blue deck since there aren't that many nonbasic lands that mono-coloured decks will run. This card shuts down many decks really fast (usually the more colours it has, the sadder it'll be) and works great if you're trying to go for the control-type of deck.
Not many people are willing to pay that extra 1 mana in the early game and that will net you a lot of cards. Even if the first thing someone does is destroy this, they probably won't spend the extra mana and you'll get a card out of it.
6 mana for a repeatable omni-bounce? Yes please! It's a like a baby Spine of Ish Sah. It doesn't destroy the permanent, but at least it gets rid of it for a little bit. And it's repeatable.
Instant-speed omni-tutor? Yes please! Combine this with a Brainstorm and it becomes and instant-speed blue Diabolic Tutor.
Finally, a card that not a lot of people know about. Sure, early game it doesn't do much since you don't have the mana to pump into it, but it can be really useful later on. If at the end of an opponent's turn, you can pump a little bit of mana into it and rearrange part of your library. Think of it like a scalable Sensei's Divining Top, except it can't draw you cards. And, if you don't like the cards you see, you can shuffle those cards away. On a last note, if your general gets tucked, you can shuffle your deck then dig for it.