The ability to pay mana and ping each opponent isn't incredibly powerful, but it is a way to keep things rolling in decks such as Rakdos, Lord of Riots or the more recent Ob Nixilis, Captive Kingpin without having to have spells or other nonland permanents around to help generate life loss
He has an end step trigger that deals damage equal to his power if you played a land or cast a spell from anywhere other than your hand
Note that you cannot pull counters off players, just permanents, which is bad because this isn't an answer to Experience Counter abuse in Commander
The first strike is very nice, but theres just enough better options out there to keep this from breaking through into older formats
Midnight Reaper This three-drop 3/2 mono-Black dork gives you all of the cards
The Dual Lands For every Raging River in Alpha / Beta theres another perfectly elegant design