A reusable Pay No Heed? Great! Too bad that this card is overpriced. The fact that you both have to pay 3 for a 1/1 and pay an upkeep cost make this card too expensive to use in most situations. Basically, you're paying 3 for a Pay No Heed, which is really too much. Also, it's a 1/1 for 3, which is really too expensive. Still, if you've got the mana to spend, it can be useful, especially in formats like Limited.
Pros: Pay No Heed on a stick
Cons: Weak body for cost, upkeep cost