UndeadCow

1 card will win you the game.... Felidar Sovereign

Great concept! Here are a couple of other cards to think about that would work very well with this concept.

Bred for the Hunt
Dissolve
Give//Take
Horizon Chimera
Kalonian Hydra
Mystic Genesis
Prime Speaker Zegana
Progenitor Mimic
Prophet of Kruphix
Spell Rupture
Tromokratis
Vorel of the Hull Clade

To me, this plays like a pure aggro deck, and as such, there are a few changes I would make. This is just my opinion.

Cards I would consider adding:
2x Deathbellow Raider - 2 mana for a 2/3 that regenerates for black mana
3x Fanatic of Mogis - 4 mana for a 4/2 with a crazy insane ability - you're deck seems to want to deal direct damage with the gods and this just adds to it - not to mention the crazy combo with this and Felhide Spiritbender - minimum 3 damage per turn to each opponent
2x Felhide Brawler - 2 mana for a 2/2 - just for quick aggro and adds to black devotion
2x Kragma Butcher - 3 mana for a 2/3 and every turn it attacks it becomes a 4/3 the next turn
2x Erebos, God of the Dead - Opponents' can't gain life and gives you draw ability - with Felhide Brawler you should have enough black devotion for it to be come a creature as well

Cards I would consider removing:
2x Whip of Erebos - no need for lifelink or the ability to bring creatures back because in my opinion this is aggro direct damage and neither of those abilities are necessary
3x Borderland Minotaur - just not a great card. 4 for a 4/3 with no abilities - you need more low casting do deal faster damage and this doesn't do anything special for you either
4x land - you don't need all that land - this is fast casting and aggro and you'll be able to dump your hand by mid game so you can spare a few land for some better cards plus read the bones and scry will allow you to move your cards around if you need to find land.
1x Oracle of Bones - you don't have that may amazing instant/sorcery cards that would be hard to cast without it
1x Ragemonger - 2 is more than enough in my opinion

Also, consider swapping Lightning Strike for Bolt of Keranos - one additional red mana for 3 damage and scry 1 but it's a sorcery - this is up to you but I think the scry mechanic will help you a lot with this deck since you don't have much draw ability without read the bones and Erebos, God of the Dead.

Very high casting. I like all the manafixing you have because it is very important you get what you need with many of your small casting cost creatures being gold. I would highly suggest some additional dual lands so that you can guarantee to get what you need. Sac lands and shock lands would be the best alternatives to the standard dual lands from Unlimited. You may also want to consider something like elvish piper in case you don't have the mana you need to cast something from your hand.

good point on the dark ritual not being modern. didn't know that's what you were going for. As for megrim, the point is to hit them as they go down to no hand as well. Plus if they have a draw engine, then you won't be able to do as much damage with the rack and shrieking affliction, so it's backup damage.

I would suggest Megrim and Dark Ritual. Both are really cheap and both help your deck tremendously. Liliana's Caress is better but a lot more expensive. Just some thoughts :)

I really love Quicksilver dagger and I wanted to splash red for it as well as Razorfin Hunter, but I decided against it for now. Always there in the sideboard though. As for Mind Over Matter, it's a great card for a semi-infinite combo. To be honest, I didn't even think about it with Curiosity. I'll definitely have to consider it - sideboarded for now. Thank you very much!

I agree that red is more about direct damage, however I don't think that there is any colour which has as many "tap to deal 1 damage" creatures - with no backlash - than blue. Blue even has aura's that do the same thing like Psionic Gift and Hermetic Study. And you're right, this deck IS amazing for the lulz, but it actually works too :)

Since you have some really good artifacts in here that are easily destroyed, why not consider adding darksteel forge? Darksteel juggernaut could become quite insane quite fast. Mycosynth golem might also help you cast creatures much faster. Blinkmoth urn could help with constant mana as well, and now that mana burn no longer exists, it can't hurt you if you don't spend the mana. Metalworker also helps to mana ramp and obviously tolarian academy, but it's banned. You may also want to consider some of the Eldrazi since they are all huge and colourless. Just some thoughts - looks fun.

Nice concept. Here are a couple of my thoughts for possible additions - just my opinion.

Anti-Flying:
Windstorm

Planeswalkers/Gods:
Nylea, God of the Hunt
Garruk, Caller of Beasts
Domri Rade

Mana Ramp:
Elvish Mystic
Birds of Paradise
Sylvan Caryatid
Zhur-Taa Druid

Other Creatures:
Kalonian Hydra
Battering Krasis
Wild Beastmaster

Direct Damage:
Magma Jet
Lightning Strike
Rage of Purphoros
Anger of the Gods

Hmmm. Lots of different options here, but it all depends on what you want the feel of the deck to be. I think based on what I'm seeing, your core concept is to have Elite Arcanist ruin people's lives - and if I were you, I'd probably want to keep that theme going. That's a great idea like I said but it needs to be very focused because of how many options all these exiled spells can create. The concept seems to be more or less a twist on the turbo fog theme which is really fun, but really hard to pull off without the right build, so with your current structure, you need to have some different win conditions, however it has to be focused enough for you not to lose the main theme.

You should also consider your mana curve. I understand you adding in the sol rings (thus actually making it an illegal deck, but that's a separate issue), but colorless lands don't necessarily mean you're able to cast the things you need. Also, with all of the draw effects that you added, you need to be careful with your hand size. If you don't have a lot of land in play and you haven't activated Tamiyo's ultimate ability, the card drawing can actually become a pretty big disadvantage, causing you to discard. This does on the other hand help you cycle through the many cards in the deck though, eliminating the need for cutting - but again that's a separate issue.

To answer your questions on what I think you should cut, here are my suggestions:

1. Get rid of the 2 howling mines - you have draw ability from rhystic study and this gives you the option to draw, rather than forcing you to and giving your opponents' a card advantage as well. If you'd rather keep howling mine though, cut the 2 rhystic studies. You don't need both.
2. Cut out at least 2 of the sol rings - at least that would keep it legal in vintage. I would cut all 3 and keep it legacy legal as well. Plus you don't need all that mana right away since most of your stuff can wait until you have axebane out.
3. Cut the 2 defend the hearth - you already have fog and your deck is based on defenders. You don't necessarily need all of that prevention.
4. Remove 1 tree of redemption and 1 mnemonic wall - you don't really need them all and it's just taking up space.
5. Cut 1 elixir of immortality and 1 door to nothingness - when you're exiling cards to arcanist, you won't be able to bring them back with elixir anyway, your creatures probably won't die because of asceticism (assuming you get it out), and you only really need to run one door if you're going to have other win conditions
6. Cut 2 of the doorkeeper's - you don't need that many since for you it is a secondary win condition. Plus you have the arcanist/traumatize combo which could work a lot faster.
7. Cut 2 redirects - you have echo mage as a semi-redirect. Although it won't prevent things from happening to you like redirect could, it is scary enough that an opponent will think twice about casting a lightning bolt when you have 2 blue land open and a level 4 echo mage.
8. Cut 1 Tamiyo - you can only have 1 out at a time anyway, and it's not super key to your theme even though it does work really well.

With all that said and done, that will leave you with 60 cards. I would also consider swapping out hollow trees and sand silos for islands - you need a lot of blue land for this to work properly so trade some up. If you can afford to, you may want to even add some dual lands like breeding pool to the mix to help with your mana fixing. Your axebane's will generate enough land for your combos so there is no need for slow lands like you currently have.

There are probably other things that could work here too, but I can't think of any at the moment. Take these suggestions into consideration and see how the deck plays out. I think you'll find that it's a lot more fun.

Looks a lot better, however I would still swap dispel for counterspell or dissolve. I would also add a bit more countermagic. The only other thing that I noticed delays this deck a little bit is the land choice with hollow trees and sand silos. I understand that it allows you to add additional mana at a later turn, but it does delay the start of your game quite a bit. You might want to reconsider those choices. Other than that, I think this deck looks really fun to play with. Great concept.

How annoyingly fun lol. Anyway just a few suggestions. I think you need another win condition. It's too easy to get rid of door to nothingness these days with all the countermagic and artifact destruction. I know you run elixir of immortality but I think you need to have something else in there in case. I would suggest adding some more countermagic and some mill to the deck. Below are some cards that I think would work marvelously:

Traumatize - exile this card to Elite Arcanist to erase their library very quickly
Seeker of Skybreak - use Elite Arcanist more than once per turn
Doorkeeper - defender and a milling machine
Counterspell - shouldn't have to explain this one
Dissolve - similar to Counterspell but costs 1 colourless more and you scry 1
Tormod's Crypt - to make sure they don't use something like Elixir of Immortality
Asceticism - Hexproof your key creatures so they can't be bounced or killed

I would get rid of Dispel, 2 of the 4 elixirs, and swap archaeomancer for mnemonic wall since it works better with the defender theme and has the same ability. You may also want to consider a draw engine just to make sure you get what you need faster. Maybe something like howling mine, rhystic study, stroke of genius and/or sphinx's revelation since you can generate any colour with axebane guardian, and if you can pop Tamiyo's ultimate, you won't have to worry about discarding either.

Fun deck idea. Just as a side note though... It's Frodo and Rivendell :)

Some thoughts as well...

I would get rid of Eladamri, Lord of Leaves. Great card but really screws you over when it comes to casting spells on your own creatures. You already have Asceticism which is much better. You may also want to consider Privileged Position and/or Oak Street Innkeeper for similar effects. Very similar to Timberwatch Elf is Wirewood Pride which is the same thing in instant form. Forestwalk is a great feature that comes with Elvish Champion, you should try to take advantage of it with something like Deepwood Elder, Thelonite Monk or Gaea's Liege. I would consider using Garruk, Caller of Beasts rather than Garruk Wildspeaker. Presence of Gond would be a great addition as well, especially if you also add Seeker of Skybreak which would just be godly with Rhys the Redeemed, and with Doubling Season, it should all be banned. Also Doubling Season works amazingly with Immaculate Magistrate. You should also consider Windstorm or Corrosive Gale as an additional way to get rid of the pesky flyers that could ruin your day when you don't have Spidersilk Armor in play. Also as an secondary win condition, you may want to consider Epic Struggle. Last but not least, an elf deck just wouldn't be an elf deck without Ambush Commander.

No, Akroma can definitely be targeted. See 4th post in the link below.

http://forums.mtgsalvation.com/showthread.php?t=50686

defeats the entire purpose of having a deck with cmc of less than 4

I have to disagree. Hymn to Tourach is a great addition to this deck because it puts pressure on the opponent's hand as well. One problem with land destruction is that when people realize they're up against it, they hold land in their hands until they can use them on the turn they play them. With Hymn available, this helps eliminate the risk of them hording lands in their hands.

Also, I don't understand why so many people are disagreeing with Do or Die. There are so many decks that can get around the land destruction in this deck. Since this is a legacy/vintage deck, there are decks out there that can ramp like crazy. Elf decks, Weenie decks, Control decks and Artifact decks are just some examples. Not to mention if you play against a black deck, 1/3 of the land destruction cards in this deck become almost useless. Mono black discard decks can really screw this deck over as long as they build them properly - mine can mana ramp just as fast as this this deck. There are tons of other style decks too that just need to have 1 or 2 land in play and can basically play their entire combo's from there. I have a land destruction deck of my own where I destroy my own lands to help my win condition. So what I have in place of land is cards like birds of paradise, quirion elves and utopia tree. Those cards alone let me cast almost my entire deck without needing land. With control decks, you'll be playing against cards like force spike, force of will, daze, etc. which need 1 land at the most to counter a spell. Weenie decks and elf decks can have 3 or 4 creatures out by turn 2 and if they go first, you won't have the chance to destroy the lands early enough without a dark ritual on turn 1. Artifact decks (or colourless decks) are another problem because they have mana ramp in the form of artifacts and even combo lands. Think of cards like the urza lands, mox diamond, mox opal, lotus bloom, Mishra's workshop, ashnod's altar, metalworker, mana vault (1 per deck if you play vintage) and sol ring (1 per deck if you play vintage). If you play any of these types of decks or any other deck that can actually ramp faster than you can, do or die becomes insanely useful. Maybe reduce it to 2 instead of 4 but I don't think you should get rid of it completely.

Geth's verdict is better than diabolic edict and cruel edict, but chainer's edict has the flashback ability so I think that one is still stronger.

There are some other cards you may want to consider adding to this deck which fit with the <4 cmc rule and the shadow creatures. Just some thoughts for you:

Blight
Desolation
Rain of Tears
Rancid Earth
Dauthi Slayer
Pooling Venom
Ark of Blight
Strip Mine (if you don't care about using banned/restricted cards)
Wasteland

You may also want to consider adding in Dingus Egg. I know it is 4 cmc but it fits very well with this deck since you would rarely ever lose a land yourself.

There are many edict's just so you know (Diabolic, Chainer's, Cruel) that all do the same thing - target players sacrifices a creature. I am not sure why you think they are better than Do or Die? For the same cmc, you get to strategically destroy a set of cards which are screwing with you in the game. I think Do or Die is much better.