Vanilla beaters are not very effective in EDH unless they are extremely large. Master of Etherium will usually hover around 10/10, which is not very efficient at defeating multiple opponents with 40 life each.
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Who cares? Its not like a dragon deck needs to have every single creature be a dragon. That would just be a bad way to make a deck.
I would question the use of the Flaring pains, the burn the impures and the ignorant blisses. The Burn the impures I would replace with lightning bolts or incinerates. I agree with Sorra119 that the deck needs more lands, but I don't think you really need any crucibles of fire since dragons are already big enough that I don't think you need to worry about it. I would rather use things like lightning greaves, loxodon warhammer, or swiftfoot boots.
I wouldn't really expect that the Reverberates, or the explorer's scope would be all that useful. I would probably take those 6 out, take out 1 of infiltration lenses, and put in 2 more goblin bushwhakers, a 4th memnite, and 4 flayer husks.
Instead of the celestial purge, you could use swords to plowshares, or journey to nowhere, or day of judgement, of wrath of god, or damnation. You could even use Loxodon Warhammer in addition to your Behemoth Sledge for more cards to give you trample/lifelink.
You need more than 20 lands. Only 22.5% of your cards are playable for less than 4 mana, and you have no way of getting more lands out quickly. Personally, I don't really like Flesh allergy, or assassinate. I would rather use Doom blades, or go for the throats.
What? This deck doesn't have any plainswalkers in it... Where are the Graceful Antelope or Zodiac Roosters? You may have succeeded at making a good planeswalker deck, but this is no plainswalker deck.
After looking at it more, you definitely need more lands. Also, I would use Hypnotic specter instead of whispering specter, since it discards at random, does regular combat damage, and doesn't have to be sacrificed.
I don't really have much experience with a deck like this, but since megrim costs 3, and so do the first of your creatures, I would think that you should either use Liliana's caress, since it costs only 2, or just use two more of your quest for the nihil stone. Instead of the 4 Caress of Phyrexia, I would use 4 sign in blood, since it is much cheaper for what it does. And personally, I don't think that the Butcher of Malakir should be in the deck anyways. He is too expensive, and doesn't really fit the theme well. And if you do want to keep him in, I think that you need more lands, or he will be almost impossible to play. Although, I think that you may need more lands anyways.
Well, if you and your friend aren't actually playing commander, then you shouldn't really have that much of a problem beating it since most of them are built to take advantage of the 40 starting life, and are much slower because of that. Furthermore, most commander decks rely on having their commander available at all times, and without that, most will perform worse than intended. Preferably, you should build your own commander deck to play against him. If you don't know how to go about it, than take a look at mine here. http://www.mtgvault.com/ViewDeck.aspx?DeckID=221273 You'll probably be able to find more specific deck construction guidelines online. I apologize for seeming condescending if you actually do know how to do this already. Just trying to be helpful.
I agree with Samanos. You need to have some way to find your combo, preferably able to do it more than once in case part of it gets destroyed. Personally, I would go with blue since it has counterspells to help you survive, card drawing, and even tutors such as fabricate to look for the pieces. If you get rid of the 4x Memnites, the 4x Ornithopters, and the 4x Phyrexian walkers, then you'll have room to do so. Of course, then you'll have to stop using the off colour artifact lands, since they'll make it nearly impossible to have the right mana when you need it.
Instead of your erase, maybe you should use return to dust, since it can exile two artifacts or enchantments. And instead of zombify, you could use dread return since it has flashback as well. Personally, I wouldn't really like the four circle of protections and the celestial purge, but if they work for you, then why not?
Why is the deck intended to be a venser deck if there is only one copy? Compare to my deck here http://www.mtgvault.com/ViewDeck.aspx?DeckID=221910 which has more of tezzeret the seeker than you have venser, but it isn't particularly optimised to use him. That being said, the deck itself looks pretty good but doesn't seem like venser or blade splicer belong.
I don't know if Scrapyard Salvo, or Slag fiend will be that good for you, since only 6 of your artifacts are likely to be destroyed seeing as how artifact removal isn't all that common. [At least not that I know of. If in your experience artifacts are frequently destroyed then ignore this part.] And seeing as how your deck is mono-red, maybe you should use ichor wellspring instead of prophetic prism since it cantrips the same, and can get you an extra card if it is destroyed. Since several of your cards want artifacts in the grave, maybe you should include some cards to sacrifice them.
Since your plan is to reanimate your demigod of revenges, the tormented souls seem superfluous. Also, the Ashenmoor lieges don't really seem all that valuable since they die really easily, and only really significantly pump your Demigod of revenge who doesn't kill significantly quicker from +2/+2 since you'll typically have more than one of them. Other than that, the deck looks really good.
Good luck. Going to be really hard to shuffle though. That's something I have trouble with when I use my commander deck http://www.mtgvault.com/ViewDeck.aspx?DeckID=221273.
You definitely need to have more than 20 lands. As it is, you can barely ever get to 3 lands, which is where your cards that will tutor for more lands will be able to start helping you get further. As it is though, by the time you're able to play any of your large creatures, I doubt that they would help much. Especially since your cards such as Elvish piper are just so easy to kill. I would drop the followed footsteps as well as the paradox hazes for lands. The Gate to the aether I would replace with Lurking predators. It does the same thing, except it is asymetrical, and can trigger multiple times a turn. This is just a small nitpick though, but B/G would be black/green. B is black, U is blue.
Could something like prey's vengeance or virulent swipe be better than vampire's bite? They only give +2 power, but they come back the next turn so they can be used again. And the turn one win would be awesome. This is a cool deck anyways.
Wouldn't Draco be a horrible choice on account of costing 14 mana to play, with an upkeep cost of 8? And with so many expensive cards, you really need more than 20 lands I would think.You do have your 12 rituals, but I would think that trying to go Green-Red and using the many ramp spells available to green would be more efficient since you would keep the mana every turn, and not just as a one shot effect. And then you would be able to include a few removal spells such as lightning bolt, or even something like savage twister/earthquake/fireball/some other x spell. I wouldn't use crucible of fire either, because your dragons are big enough to win a fight against almost any other creatures anyways. I would also question the use of braid of fire, since you don't seem to have any way to take advantage of the mana, since it goes away after your upkeep. This looks like a good starting point, but it seems to need more work.
Maybe, you could add two more of the quest for the nihil stone? As well, I would switch the palladium myrs for everflowing chalices or something similar to that, so that you wouldn't be relying on creatures for your mana ramp there. Other than that, the deck looks good.