Well, if nothing else, it's good brain exercise trying to make a deck work.
There's late, and then there's late.
Modern has multiple ways to be early with that idea but let's see what you got here first.
This is a list of my thoughts about every card in the deck.
I'm not a master magic mystery man who has ultimate knowledge so take it with a grain of salt.
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Burning Vengeance; Tis a funny kind of card, it CAN add to huge amounts, especially in UR where you are constantly casting stuff, but at 3 mana, it's kinda "Late game". If you were
pure UR burn with many, MANY Cantrips (cards that draw a card for low cost) It'd be pretty awesome, here it's more of an afterthought. Potential rarely produces results without tools. Especially without
Past in Flames.
Cauldron Haze; It seems good but honestly, I cannot see the use for it, you'd have to play an odd assortment of cards to get the benefit. Some sort of B/W 2/2 deck running
Tidehollow Sculler and buddies with sacrifice outlets might benefit but here it's an odd outlier that MIGHT do something IF you have the mana up in certain situations.
Epic Experiment; The timmycard of timmycards. It seems good until you realize you kinda need +6 mana to get any real benefit out of it. Even then, it will not produce the exact result you want since deck isn't tight enough. UR burn control deck would love to have it. But here it's more of an "Why did i draw this now" card.
Faithless Looting; Has nothing wrong with it, especially as you do want creatures to be in the GY to fuel the overall gameplan and Flashback has extra use for you.
Flayer of the Hatebound; You really love this dude, huh? At six mana 4/2 it dies REALLY easily. Ofc, no one is going to kill it, wich is it's greatest pro, and it's greatest con, you WANT it to die. With Board sweep burn, it becomes marginally more useful but still remains a six mana dork that somehow has to get to the field to be useful. It's a huge conditional card without more robust means of reanimating it.
Forbidden Alchemy; Just the tool you need, I'd replace it with
Thought Scour tbh, faster and you still get card advantage. Would play better together with
Faithless Looting as well. At seven mana, you are going to never cast the flashback.
Incinerate;
Lightning Bolt. Nuff said.
Inkwell Leviathan; Hueg. Big hueg. EXBAWX HUEG. Pretty obvious you are planning to
reanimate this. And fair enough, it's a good target for that kind of shenanigans. In casual games just having something so huge will win you games but without more robust
reanimate engine in the deck, it's a
dead card. Even Flayer is still castable, imaginably. In it's place, I'd run something with Cycling on it, to assure it hits the GY on time and does not mess up your game plan unduly.
Izzet Charm; Hits the spot pretty perfectly and all modes are beneficial, run more copies :p
Kiln Fiend; Relies heavily on bursting out many cheap spells in one turn that do not require conditional targets. Your deck is full of conditional cards and average manacost creeps heavily over 3, sad to say but it's pretty unplayable here.
Mana Leak; Always good control card and with proper meta knowledge halts most decks for more than a turn. There's not much to say other than say it's good.
Nether Traitor; Funny little fellow, innit. BB manacost is pretty oppressive though. Ability is good and cheap, assuring constant output of damage but is very out of the left field for any archetype this deck tries to run. With more aggro more monoblack mainboard, he could be good but here is nothing but gimmicky 1/1.
Polymorphous Rush; Nice card, it neatly even can choose
Inkwell Leviathan to copy since it does not target the thing it copies. Main thing that worries me about it is the fact that it has to hit a boardstate that is already tipped towards your favor with some creatures on the field and target to copy. It's ultra conditional, i'd replace it with more cantrips or utility spells.
Pyromancer Ascension; To get the full power out of this card, you pretty much NEED TO run a deck with 4 off of everything in it. More one offs you have, worse it does. More card draw you have, better it does. It's a gimmicky card but benefit of it is notable, only "bad" thing about it is that you have to tool the entire deck to fuel it and usually that means playing Storm. Although casting
Inkwell Leviathan isn't a bad choice either. Just kinda worse off since one
counterspell screws you over.
Rise From the Grave; It's good, but it's five mana. With assorted mana accelerators I list later it becomes notably better but it still remains a five mana card. There are cheaper and more sure-fire ways ways to do it. Sadly it's just a bulk common filler.
Sedraxis Specter; I like Alara cards, and had it haste it'd be amazing. As is, it begs for removal and recurs itself, most def a good card. Although discarding it to your outlets and then unearthing it is definitely value as well. By all means keep a few as flavor if you want to.
Is it a 10/10? No, but it's nice enough to keep in any Grixis deck if you aren't planning to go in any GPs in the near future.
Through the Breach; Is good and always will be. As is, it kinda lacks targets to
Breach out. Inkwell, although big, has Shroud, meaning you can't
Cauldron Haze it for value and Flayer is just a measly 4/2 in the end. Maindeck
Progenitus and/or some other HUGE creature for more uses other than gumming your hand.
Wee Dragonauts; Same applies to him as it does to
Kiln Fiend, more or less. It's still Bolt-able and flying, while it makes a difference, isn't that big of an deal to warrant inclusion.
Stormchaser Mage; More Prowess creatures, Same as
Kiln Fiend, they all pretty much require the deck to be built specifically for them.
Delver of Secrets; IIRC; 12-14 creatures and rest Instant/Sorceries and you STILL wont flip this guy without hideous amounts of Scry in deck. He's pretty much same as
Kiln Fiend and buddies, requiring rest of the deck to fuel him.
Desperate Ritual; Here's your mana accelerant, more mainboardable than sideboard stuff atm. More on this later in the post.
Griselbrand; Now here's your
Through the Breach target. Can't get much better than this. Sadly you need multiple, otherwise it's pretty RNG.
Black Sun's Zenith; While I have a love/hate relationship with this card in my Mill deck, I'd suggest
Anger of the Gods or
Radiant Flames rather than this janky card since you run Red. It's 5 mana versus 3 for the same result.
To get to the late game, you'd need some way to keep the board clear almost constantly.
Anger of the Gods or
Radiant Flames fits the bill better than
Black Sun's Zenith in most matchups.
Unless you get rich ofc, then you buy the
Damnation s.
Even then, case can be made for 3 mana sweepers that hit 90% of the meta and 4 mana sweeper that hits 99% of the meta.
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I won't touch the manabase anymore than casually, optimal landbase is optimal and expensive.
(BUY FETCHES)
You work with what you got.
Firstly, if you have bad lands to choose from, use more Basics, not more taplands.
Evolving Wilds 4-off is a mere pittance and adds more play ability than 12 tapduals.
Anyone who has played over a year should have at least one playset laying around for you to buy for a dollar or so.
Tap Duals look good in decklists but work badly in plays outside draft.
That's my experience anyway.
Few lands of note though;
City of Brass,
Crumbling Necropolis are cheap on-mana cards and
City of Brass might be just useful card to have around.
Grixis Panorama and
Terramorphic Expanse are both bulk commons that fit your colors.
Ghost Quarter is good but more of an sideboard unless your deck needs them to work which does not seem to be the case here.
Blood moon, ofc is the ultimate Land Control card for any Red including deck.
Prowess creatures in there now could be replaced with more control oriented cards, good ol'
Lightning Bolt, Discard (
Duress, Kozilek's
Inquisition etc) and more counterspells / bounce cards.
I really like
Sedraxis Specter though. Alara had the best cards.
Fish and Fish Guy (
Gurmag Angler and
Tasigur, the Golden Fang) seem solid options to jam up the the board state until you get to the OMGTFBQ part of the plan.
Of course, that dis-includes the use of any Graveyard plan since they nom it all away.
Considering huge manacosts involved, ya'll need mana acceleration.
Pyretic Ritual and
Desperate Ritual. Another good one is
Past in Flames for that extra graveyard fuel
conversion and
Manamorphose is the more expensive card that works as Filter to make Grixis (more) viable.
All are pretty dependent on
Pyromancer Ascension to fuel out T3
Inkwell Leviathan and buddies though.
See some Storm MTGO videos on how to break magic and lose friends. :p
Reanimator is more of an Legacy thing. Hence
Reanimate.
Then again, Modern has
Living End.
It's triggered via casting Cascade (
Violent Outburst,
Demonic Dread, etc.) and not having ANY cards below 3 manacost in your deck. (And preferably having Graveyard full of creatures)
It's an outlier deck but certainly Tier 1 with proper piloting.
Which might be more viable of a deck archetype to build on the basis of having big creatures. Just discard the big creatures instead of Cycling them away somehow.
Faithless Looting for example, or running scrylands and using
Thought Scour or
Hedron Crab or something along those lines.
Cauldron Haze adds an interesting twist to that deck and a very robust end-game.
It's what you might call Win-More though, you kinda don't need to win anymore than resolve
Living End, usually.
Resolving
Living End second time after Persisting your board seems just rude.
Alternative is to run
Goryo's Vengeance.
That seems to be really close to what you want to out of this as an end product.
http://www.mtggoldfish.com/archetype/modern-grishoalbrand#paperVengeance Exiles so
Cauldron Haze has no use in this deck, unless you get to the Trough the
Breach part of the game plan.
That's my wall-of-text in the thoughts.
As final note, I would not limit yourself to JUST your collection when designing decks.
It's all make belief after all, until you buy the cards, so let your imagination run free and keep looking for more answers every where you can.
Hopefully this helps you by giving you ideas to build on.