Feels fair at this price
Unlike merely having 10 more HP, an ability that reduces incoming damage by 10 significantly boosts its resilience, as taking three or four hits could reduce total damage by 30 or 40
So, youre left with either just taking 3 at a time or losing some serious value in a trade
So for instance, Dredge is a good choice if your metagame is flooded with Murktide, Grixis Shadow, Burn, blue control decks, 4c Omnath etc
This zombie assassin does its best Jason Voorhees impression, but stays down just long enough after dying for opponents to plan their next move
I think it is also really deck dependant, but if you can find ways to get this to trigger when you need it to, it could be a great way to screw with opponents in combat or via effects you might have available in your graveyard