Pointed Discussion

In one-on-one Feldon's Cane is better. This card is a little more useful in multi-player such as EDH and Emperor. Both, this card and the cane are much better in Vintage than in Standard.

With libry depleation getting more and more power cards, cards like this and the cane are becoming more important asprotection from depletion.

Not only does this save you from being milled, in small decks, it can be great just to get some extra use out of your spells.

Can target yourself to get your spells back or can hose a reanimator or dredge deck.

I'd rather use Feldon's Cane or Tormod's Crypt, depending.

Anti-graveyard tech.
Anti-mill tech.
One Sideboard Slot.

You can target the player this effects, so it is not functionally worse than Feldon's Cane, it is different. Much like how Tormod's Crypt and Relic of Progenitus are not the same in that the crypt targets one graveyard, and the relic targets ALL of them (or a single card from one).

This is good versus self-milling decks with Laboratory Maniac, Enter the Infinite, Mirror-Mad Phantasm, and Leveler for example.