Pointed Discussion

Specially good when you have a discard ability in a hand card, like madness effect or Vigor.

This card has some great flavor text.

Would much prefer any Looter like Merfolk Looter and the like, who do this for free.

If you're playing , you're better off with Mental Discipline.

Discard synergies aside, Darksteel Pendant may be a better investment.

Not totally. Yes it is repeatable, but Mental Discipline requires you to discard a card as part of the casting cost, before resolution. That means:
1) It's even worse if it's countered while on the stack (hello Stifle)
2) You can't discard the card that you draw should you need to (graveyard tech, mana flood, etc)
3) You have less of an idea to which card you really want to part with since you must discard before you draw. This can result in you discarding a card that you best guess you can't use, only to then draw a card that would enable its use. Had you drawn first, you could have discarded a different card instead.