Fun fact: Skullclamp was supposed to give the equipped creature +1/+1, but then it was nerfed to give it +1/-1
Cards like Snapcaster Mage or Flashback are excellent here because they add redundancy to your storm count
As the damage is dealt, however, the creature with regeneration is tapped, taken out of combat, and has all damage removed from it, thus bringing it back to full health
Not only is this bonkers in an Eligeth, Crossroads AugurEligeth, Crossroads Augur deck, but if you can see the top 5+ cards of your deck, that's insane value
Still there is enough permanent based interaction and cards with additional cost that I could there being a deck somewhat built around this card
My initial assessment is that this might be the strongest card in the set