It's been over two years since I first started this site with a look at this card. Since then, I think I've matured a bit as a Magic player, learning more about the different metas and seeing the hidden potential of some cards. I now understand why Cephalid Illusionist can be really scary and why cards like Dawnglow Infusion aren't that spectacular. And I can definitely say that my opinion on this card has definitely changed as well. This card didn't deserve the 3/5 rating that I gave it. It deserves less!
There are much better ways to deal with Maze of Ith (which is what many people have told me that "this is the solution to"). Ghost Quarter and Raze can deal with it in exchange for one of your own lands. Sea's Claim can deal with it permanently by turning it into an Island and Tidal Warrior can deal with it repeatedly on your turns (kind of like this card, but without the mana cost). I no longer think that Icy Manipulator or Early Frost are good replacements for this since they are either too slow or they are just temporary. Still, there exist many other replacements for this card that don't cost $120 (the average price of this at time of writing).
Pros: Taps down a land
Cons: Costs mana for use
Replacements: Ghost Quarter, Raze, Sea's Claim, Tidal Warrior