Ignore the second part. I fail at memory: M10/M11 lands are friendlies only.
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Consider equipment that gives more power... Darksteel axe should be a shoo-in for this deck, especially over Lifestaff and Blade of the Bloodchief. You're going to be looking at trades too frequently to make the Blade worthwhile... Also take out the Diminishes for preordains, and consider running the M10/M11 splitlands (since you have pretty steep mana reqs in both colors, and you really want to hit that turn 4 phoenix)
Why not run Sleep over the walls? Ideally they won't be able to attack in the first place, so the walls seem kind of out of place. Consider Jace TMS, too, as he's good in almost every deck with islands. I'd also recommend taking out Emeria and adding more blue mana so you can get some fun draw/control: this deck would have a lot of issues with mass-removal (which Emeria is NOT a reasonable answer to, sorry), so counterspells might make that less of an issue. Seems like a fun idea, though.
Removal would be nice, I think. Otherwise it looks like fun.