Reached god rank at #11 with this deck today, with a win or two against several top 10 players along the way. The deck is strong, but it requires a lot of experience and flexibility to use effectively.
Skycaptain is the best card to have in your first hand. If you don't have it, look for Drakerider or Khalim. Use mobile creatures and Flash Wind/Windborne Champion to outmaneuver your opponent. Once you've played 5 deserts you can draw an extra card every turn because none of your creatures need land to stand on. Maximize this advantage by forcing your opponent to build as many lands as possible.
Depending on your opponent's deck and your first hand, you will want to either build your deserts in a "V" shape in front of you, or go up the side opposite the one they choose. Against rush just control your wells and wait for an opportunity to dash across the board.
You may want to replace Spirit Theft with Emperor's Command if you're having trouble against creatures with protection. I found Iona's Smile was not useful in this deck because most of the time when you draw it will be a flying creature anyway. It's better to have Shadowsilk Faerie to make sure you draw things like Flash Wind and Last Nightmare.