In a Limited environment where everyone is playing morph creatures and the average size of most creatures is about a 2/2 anyway, having a creature that morphs into a 3/4 without paying any mana whenever you feel like it ends up being a huge blowout
It plays best with green and white, to the detriment of restricting your deck to mono-black
Glamdring seems better than Anduril to me
Read more If you want to read up on the topic as a introduction, you can read this (older) but interesting article by wizards them self can be found here
The 10-life ability is neat and can pop off, but Id rather just have Lathril, Blade of the Elves instead
Magic: The Gathering beginner glossary Color pie: White, blue, black, red, and green (shortened as WUBRG) make up the Magic: The Gathering color pie