Counterflux is awesome against Devotion aggro, since those decks can produce multiple threaths within 1 turn, even at late-game, especially mono-red & mono-black...
Anger, Mortars & late-game Rifts easily crush any aggro deck... ...to deal with Master of Waves, it's easy, just keep Hero's Downfall for it, or cast may be just Away from Far // Away after an Anger, or such... ...you can aslo counter it with Counterflux, or sideboard 1-2 Death's Approach wich is also suited to take out gods... ...however, you can also counter gods, or after a wipe, like Anger, or Mortars, you can make the opponent sacrifice it, or return it to his/her hand & than counter it, may be after a Rift with Overload, you can Counter the right threats when played again... ...pretty much the same as with Master of Waves.......
Rakdos Charm is also very useful against aggro, 'cuz when you got overwhelmed & you have nothing else that could work, pherhaps it's an early-game assault by the opponent & you don't have Anger of Gods, it's too early for Mortars, or Rift & you have no other choise, just cast Charm for it's 3rd ability & the opponent weakens, if not dies as well... ...after that, before the combat damage step, you can eleminate the biggest threat(s) by casting (a) cheap removal spell(s)... ...of course, Rakdos Charm is also fine against reanimator, or mono-black... ...you can exile the cards in your opponent's graveyard & than he/she can't return Abhorrent Overlord with Whipe of Erebos... ...you can also deal with Pitching Needle & such.......
Peak Eruption is awesome against mono-red, Gruul & even against any 3 color deck that has red in it, you'll just destroy their mountain-type shocklands & even weaken the opponent & slow him/her down, mess up his/her game...
Rakdos's Return is good against slowly-working deck & also any deck with good drawpower... ...it's the ultimate counter for Revelations as you know it already... ...useful against control, since I don't have much medicine for those decks in the main deck... ...that's why I keep 3 Negate in the sideboard as well... ...Peak Eruption could also mess up the rhythm of USA, Grixis, Jund & R/B/W control decks, even Naya aggro/ramp decks & that additional 3 damage is awesome when I have a Demon out, or about to cast a Dragon(or already out)... ...the extra AEtherling is also most useful against control decks & any deck with a strong set of removal... ...it just survives anything that could be thrown at it.......
So far this deck works very well as I'm testing it...
What changes would you make?..