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This deck at first scared me. I didn't think Illusion Aggro decks would be very good but then I considered the idea of using Phantasmal Image on Lord of the Unreal to create a creature that gives itself +1/+1 and Hexproof. Also I toyed around with other cards I found like Adaptive Automaton and Grand Architect. I realized this could be a very worthwhile deck and instead of adding in Illusion sacked creatures I added in AEther Figment which easily seemed like a much better idea. The Spellskite is in there merely for more control and protection for Lord of the Unreal so he isn't destroyed before I can Phantasmal Image him.
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Phantasmal dragons are very scary when they come into play with a few counters on them. I think the aggro part of your deck is missing without the phantasmal bears and dragons. Also a levitation could make bears that are already coming into play with counters be flying as well. Redirect is a great spell for protecting your illusions/lords until you image a lord. I just don't see why all your creatures other than spellskites shouldn't get the lord buffs.
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It's really all about pump. I added the Adaptive Automatons to turn them into Illusions giving them the same +1/+1s that Lord of the Unreal gives out, and on top of that they should get pump and have Hexproof. The Illusion deck I was planning on making had 4 bears and 2 dragons but I found that by that time I could easily have super pumped creatures that can't be targeted orrrr have a 3/3 Aether Figment in play which is unblockable. A 3/3 Unblockable > 5/5 Flying in my mind.
Here is my illusion deck, I'm about 2 spells from it being complete: http://www.mtgvault.com/ViewDeck.aspx?DeckID=208026