It means that you can take the two high-rarity cards if you want to, which could potentially allow you to keep the majority of the value in a pack, assuming you get really lucky
3 mana is admittedly a lot to ask for spot removal, but you should have at least 4 lands by the time you want to use that side of the card, which will take out a lot of dangerous creatures when the need arises
Without the play/draw rule, a first turn Tower is all but guaranteed to give you a decent amount of life when you're running a deck without a steady curve and it was your best defense against the antithesis of the Tower, Black Vise
Illustrated by Kipling West Part of the Reserved List Standard Not Legal Alchemy Not Legal Pioneer Not Legal Historic Not Legal Modern Not Legal Brawl Not Legal Legacy Legal Comp
PSA Sports Market Report (SMR) Price Guide This is ostensibly the main PSA price guide in fact, the PSA website recently seems to have dropped the Sports Market Report bit this is the PSA Price Guide
Heavy reprints pushed prices down