Tralese

I would consider using Gravecrawlers instead of Diregraf Ghouls. This way if you have a Zombie in play you can cast the Gravecrawler from the graveyard and have a constant source of sacrifices. Heck! If you have a Lotleth Troll out and 4 Gravecrawlers in your hand you can ditch the four Gravecrawlers to pump up the Troll and then attack with it, Kessig Cagebreakers and 4 extra wolves. Then use 4 black mana to cast all 4 Gravecrawlers again.

Added a sideboard of sorceries that summon creatures that can replace the creature stealing spells. Also added Mizzium Mortar to the sideboard to have more creature removal. I still don't know how well it would fare against re-animator decks, but it might work well enough.

You bet! As I mention to the poster above, it still need some work to be viable against some of the more powerful decks out there, but it is pretty decent. I think I might definitely also add Glaring Spotlight in the deck to counter hexproof decks.

I've tested this deck against quite a few other decks and it hold up really well. It's weakness is two-fold. It doesn't do well against re-animator decks and blink decks, or other decks that allow the player to sacrifice his own creatures. It would need a sideboard to handle these things. I might try and figure out a good side board to address these weaknesses.

Modified the deck slightly to include Skirsdag High Priest. This way if I get three black creatures on the board I am able to use the sack outlet to get 5/5 flying demons in addition to whatever benefit I get.

I would definitely consider replacing the grave crawlers with invisible stalkers to work in conjunction with paranoid delusion. I have a Dimir mill deck also (http://www.mtgvault.com/tralese/decks/dimir-millstomp/). I originally had Trepanation Blades in there, but decided to remove them in favor of cheaper mill cards such as Dream Twist and Thought Scours. I see what you are trying to do with the informer and the gravecrawler, but it's best not to have to rely on a combo in this case and have good blockers. That why I resort to Jace's Phantasm and early mill to quickly get the phantasms to become 5/5. If you have a paranoid delusion and a phantasm and the opponent doesn't have a flier. You can get your phantasm to be a 5/5 on turn 3. Turn 1: phantasm, turn 2: paranoid delusion cyphered for mill 6, turn 3: dream twist twice with flashback and boom hit for 5 damage in the air.

That isn't the ruling I read on Gatherer.

1/24/2013 If you don’t reveal three creature cards with different names, you’ll simply shuffle your library (including any cards you revealed).

I thought signal of the clans worked only if you picked three different creatures, in which case it would allow me to get the Biovisionaries right?

I approve! The only thing I don't get is the Council. It doesn't seem to fit in the theme of the deck. I would consider putting Bloodline Keepers instead. Gives you more sac outlets and more tokens to duplicate. Heck if you get to 5 vampires, things can get out of control quickly.

I could see switching out Defy Death and Divine Verdict for two Oblivion Rings, although I like the possibility of getting some of the non-token creatures back into play should they be taken out.

Oh wow, that was more feedback than I expected! And they are all great! It is true that there isn't anything in there to "fetch" a Biovisionary. And Darkmerc couldn't be more right about Nevermore and Detention Sphere. I definitely need to include a way to counter those in my side board.
As for the no one drops or fog banks... well I feel like one drops can be a little lack luster. I had though of tossing in some Cloudfin Raptors in there for early evasion that could grow as bigger creatures came into play. Not a huge fan of fog banks though. Easy bolt target and doesn't prevent trample effects.
I did think of adding black to get a tutor like card in there, but the addition of another color makes things complicated.
I hadn't though of infinite reflection. Oh my that is a very nice add.

LOL, I knew I was missing another copying spell! I think I would switch the urban evolution for them. Yes great suggestion.

Thanks for the feedback. This was an initial pass on the deck. I feel like I could use more fliers, though, and might consider removing the elves and replacing them with cheap blue fliers. I do like the benefit of card draw though.

Thanks for the comment!
I really like the idea of using the devil to keep getting the sorceries back so I can continue stealing and sacrificing the opponent's creatures.

It is true that blood moon would be a killer, but that also assumes you are not playing standard. If I wasn't playing standard I might approach this deck differently.