It might look risky, but if you do it right, youll survive and your opponents wont
Waste Not 8 Swamp 4 Fatal Push 4 Field of Ruin 4 Thoughtseize 4 Waste Not 3 Geier Reach Sanitarium 3 Castle Locthwain 3 Go Blank 3 Liliana of the Veil 3 Sheoldred, the Apocalypse 3 Sunken Citadel 2 Hive of the Eye Tyrant 2 Sheoldred's Edict 2 Bandit's Talent 2 Hostile Investigator 2 Path of Peril 2 Extinction Event 1 Urborg, Tomb of Yawgmoth 1 Demolition Field 1 Go for the Throat 1 Takenuma, Abandoned Mire 1 Duress 1 Graveyard Trespasser 2 Duress 2 Invoke Despair 2 Mazemind Tome 2 Path of Peril 2 Sheoldred's Edict 1 Pithing Needle 1 Reckoner Bankbuster 1 Graveyard Trespasser 1 Extinction Event 1 The End Waste Not is all about discard spells
Yawgmoth Demon is underpowered even if you build around him, but Necromancers Stockpile is great in Commander if you want to dump a lot of zombies into your graveyard
(10/4/2004) The two lands do not count toward your normal one land you can play each turn
Vanquisher's Banner provides anthem and card draw
Four life is a critical number as most lifegain cards that trigger off a certain threshold of life gained care about gaining 3 or 4 lifesee Griffin Aerie and Valkyrie Harbinger