Grave Pact's best friend! If you've got some sort of non-artifact creature token generator going (I like Breeding PIt personally), this can be a really good lockdown card. I've only seen one deck that ran this (since it is a $200 card) and it ran mostly artifact creatures so that it couldn't be affected by its effect. Its only real downside is that, because of its cost, a lot of token decks can create enough tokens that it won't care about it. Also, the oracle text specifies that this isn't a sacrifice; the creature is destroyed, so it can't affect Indestructible creatures. Otherwise, it's a really good card.
Pros: Great creature lockdown card
Cons: Destroys instead of sacrifices, a little too slow