Well that would be a nice deck for just casual play or vintage tournament but in a tourney with only current cards (M11-SOM) allowed it wouldn't work.
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when the stormtide leviathan is out all lands become islands making it unblockable, plus only creatures with islandwalk and flying can attack while the leviathan is out. Merfolk spy is just a cheap castable creature to do more unblockable damage.
Most definitely! Thanks for the post. I built this deck for someone else, but haven't ordered the cards yet. I will be sure to make that change. Again, Thanks!