Before this change, Wizard Mentor was a first pick card which could save your creatures from creature kill spells, allow you to reuse the bevy of 187 creatures in the format (Ghitu Slinger, anyone?), and at worst case scenario allow you to play emergency defense
Otherwise the card looks great
Margaret Organ-Kean is one of my favorite classic Magic artists (my personal favorite if Lions Eye Diamond)
Also, Whenever a creature is put into an opponents graveyard from the battlefield, you gain life equal to its toughness. The rulings around MTG have changed since this card was first printed, and the short of that is that it actually affects all opponents, which makes it incredibly good at gaining you life
This card, as we've already commented, has the potential to be incredibly strong in the right deck or format