bharinck

Seeing your deck having a lot of expensive cards in it, but no way to increase your mana generation, I would suggest adding some generation, otherwise this deck will come to a stand still on turn 3 and will have to wait until you have enough mana to drop a Caged Sun.

Therefor I'd suggest cards like: Seething Song, Battle Hymn and / or Infernal Plunge.

Nice deck, seems like good aggro.
I'll try to give some advice, but I don't play decks like this myself. My friend has a green aggro deck, which uses Arbor Elves like you, to ramp to 3 mana in turn 2, drop a Primordial Hydra and often enough draws a Blessing of Nature in turn 3 or 4, which boosts 1 of his creatures by a lot, early game. Making it very hard to kill by mere damage. I must admit, this strategy is somewhat more unreliable then a turn 4 Increasing Savagery, in my opinion it beats Increasing Savagery when used in turn 2 or 3. But then again. You must have Increasing Savagery in your hand to play it as well on turn 4.
He also uses Ulvenwald Tracker and Prey Upon to get rid of nasty blockers.
Furthermore Garruk, Primal Hunter is a really nice way to draw cards as mentioned before. But if that isn't in your budget range, Triumph of Ferocity might be a cheap alternative.

Another card I was thinking of putting in here is Deathrite Shaman. Would it be any good? I think it might help a bit by ramping a little, due to the 5 lands that I'm able to sacrifice. Problem is, getting the lands there when I need them. Would it be a good choice? What do you think?

I'd like to make this the basis for my deck. I'd need to make quite a few modifications to make it more standard tournament competative. The biggest reason for leaving certain cards out is the availability of the cards to me. I don't have them yet nor do I know people willing to trade the cards.

I'm asking you guys for suggestions to make this deck more tournament competative.

Yes, as soon as I have Overgrown Tomb cards I'll use them to replace the guild gates. ;)

Yes, as soon as I get a few more Mutilates I will start testing this, with and without Killing Wave and see how it turns out. Thanks for the advice all.

Regardless of what people say. This deck lookslike it has some potential. If I'd play standard more actively I'd consider creating this deck myself. I lookslike it can be fun to play.

Yes, I was thinking of other nice cards to use with Isochron Scepter. I did come up with my old combo of Fire / Ice. But I'll see what I'll can come up with. Harder part is, what to take out the deck to make room for these cards: Counterspell, Isochron Scepter and 2x Bazaar of Wonders. I was thinking of Flux, Petals of Insight and Library of Lat-Nam. There are also 20 lands in this deck. I think that 1 or 2 more lands wouldn't hurt. So I'd have to make quite some more room.

Yes, that Isochron scepter +counterspell is a good idea. I'll add that soon. Though regarding 4x Bazaar of Wonders, I'd have to find someone who's willing to trade these. But that was my intention eventually to have it 4x in this deck.