The quick mana offered by Sol Ring can allow for explosive starts, and while it has long been a staple in the Commander format it is currently restricted in Vintage and banned in Legacy
The mill ultimate is neat but doesnt really synergize with the rest of the card, though cards like Sphinxs Tutelage and Psychic Corrosion can turn the draw from its front side (and lets be honest, youre playing blue so you will draw cards) into some library damage
Watermark: Kolaghan Illustrated by Scott Murphy Standard Not Legal Alchemy Not Legal Pioneer Legal Historic Not Legal Modern Legal Brawl Not Legal Legacy Legal Comp
This term comes from the old card Reanimate, which works only for creatures, and also requires a life payment
While banned cards, such as the Black Lotus, remain expensive to acquire (even in unplayable, reprinted form), cards still legal for use in MTGs most popular formats often make a return in the card games latest sets
As for the deck itself, adding cards that reduce the cost of casting spells is always a good idea, and a lot of them like Jaces Sanctum come with an upside that might synergize well with the deck