The bane of white-blue decks in that format was Cabal Torturer, and without Psionic Gift, the only good way to deal with this creature was to splash red or black as a third color, weakening your mana base
While this can be a threat, and you should watch out for growing Ornithopters, most of the time that means that you will take no combat damage and more than half of all decks rely on combat damage to win the game
But just because a card has a big name in one format doesn't necessarily translate to casual town
This just comes far too late and at far too much cost for what it is trying to do
It's definitely not evergreen, and its usage has remained relatively limited, mostly confined to the set of its initial release
If you cast a creature spell this way, it gains haste until you lose control of that creature (or, in rare cases, you lose control of the creature spell while its on the stack)