It doesn't look like that's infinite damage. It looks like that's 2 damage per turn, because Guilty Conscience does the second damage, not the stuffy doll. And why would you put in so many delay type counterspells when you can actually counter the spells?
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I would take out red. shocker and barbed shocker are for decking, and pain magnification doesn't help, as all your creatures are 1/1 or 2/2. Take out Wheel of Torture and put in 2 more The Rack. Doomsday Specter is too slow, take that out. Instead of Dimir Curpurse, get Shadowmage Infiltrator. Riptide Pilferer doesn't have a way to get past blockers, so I'd take that out too. Take out Rackling and Wheel of Torture, put in 2 more The Rack. And change your lands to blue/black.
nice. I wanna see someone use this deck to destroy all a player's lands.
Depending on your budget, you might want to add in these: 4 Secluded Glen (replace some lands) 4 Thoughtseize (replace delay) 4 Faerie Harbingers is excessive. It's mana cost is too high. I would replace 2 of those with Scion of Oona to make your faeries gain shroud. Also a great faerie aggro creature is Oona's Prowler (3/1flying for 1B) Sideboard remove soul, boomerang, extirpate
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