Fabricate would also be a good choice. I would sub out the Phantasmal Terrains for Spreading Seas from Zendikar, same effect and lets you draw a card.
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Not enough Lands. I run a deck very similar to this (fewer creatures, no Jace, more annoying things like Archive Trap, Ravenous Trap, Haunting Echoes, etc) and I often have mana issues, even with 27 lands in my deck. The really nice Milling spells/creatures all need a bunch of land to work right. I ran a Milling/Discard deck in the past, and I never had great luck with it. I split it out into a U/B Draw/Discard deck and a U/B Milling deck and I have much better luck with both.
I like the look and feel of this deck, looks fun to play and unfun to play against. +1
Win. +1