(2013-09-20) Replacement effects that modify creatures of a certain type as they enter the battlefield will apply (or not apply) after you apply this effect
Giving your opponents access to an extra 2-4 mana during their second main phase can definitely be problematic if your opponent is holding a powerful card or two, but in exchange, you can snag 4-6 each turn, as no mana is given out when you lose life
Even with the given fluctuations that will occur as the packs are opened, these Iconic cards are unlikely to fall from the top of the list
First of all, winning with smaller stuff on a 40-life format is more difficult than it may seem, especially against multiple players
This was one of the best combinations of flavor and gameplay mechanics that the Universes Beyond products have ever showcased in a precon
That said, with Warrant, youll usually use it as another removal spell, and with Thrash, youll usually use it as Thrash, only using Threat when you dont have any real threats