This deck is a lot of fun and very good vs aggro.
If you can survive until turn 6 or so, then you have a very good chance of winning. The recursion from (lich + fume spitter) or (snapcaster + instant / sorcery) and additional card advantage from secrets of the dead are very difficult for your opponent.
You can kill their creatures with ease, over and over! The only problems I've found so far are hexproof. So nighthawk and BSZ help solve that problem. Also, many good creatures are also legendary, and metamorph helps a lot too.
You can gain a lot of life with nighthawk. Actually, I think nighthawk is a big part of why this deck works. Since the combo is slow to setup, you need the lifegain and deathtouch to stay alive long enough to gain control of the game.
Liliana is nice and she can create another soft lock quite easily in this deck.
Surgical Extraction was **SO GOOD** vs flashback and other graveyard combos like Frites and Zombies.
Steel Sabotage might be good sideboard vs Tormods Crypt and Grafdigger's Cage. Maybe add Mental Mistep to SB as well.
Finally, the only reason I don't play more Phantasmal Image is because I only have one!
Other cards that might work well here:
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Frost Titan
Grave Titan
Skinrender
Dungeon Geists
Ravenous Rats
Wurmcoil Engine
Apostle's Blessing
Sleep
Talrand's Invocation
Augur of Bolas
Disciple of Bolas
Elgaud Shieldmate
Tezzeret, Agent of Bolas
Devastation Tide
Demonic Taskmaster
Solemn Simulacrum
FNM Results:
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9/21/12 = 4 wins -2 losses
Only losses were to Frites and White / Green weenie. The white/green aggro was very fast. And the Frites, I made a coupe of a game play mistake in 2 of the games that probably cost me the game, or at least really hurt me. But, I don't want to take anything away - because both were very good decks. I just felt like I made some bad decisions vs Frites and if not, - it might have ended differently.
Wins vs:
Zombies (splashed green for rancor)
White aggro (blink combos and tokens with equipment - stonehorn, restoration angel, lingering souls, entreat of angles, and swords)
Boros aggro - haste, doublestrike, etc - mirran crusader, silverblade paladin, slayers stronghold, etc
UWG Geist - Geist of saint traft, Dryad, o-ring, sun titan, etc