First of all sorry for my english, i hope you can understand.
Very good idea, but there some bugs (tell me if i'm wrong): yes,
Manamorphose allow you to get mana, but you also have to draw a card for each time you resolve one
Manamorphose and take 2 mana. This mean that you can't get infinite mana because you'll lose the game (you must draw infinite cards), you can "only" copy
Manamorphose as many time as the number of cards that remain in your library. Furthermore
Blistercoil Weird doesn't get +1/+1 and doesn't untap when you copy the spell with Izzet Guilmage beacuse the spell isn't casted but simply copied onto the stack so the ability of Blistercoil doesn't trigger.
However i like your idea and i think that even with this "bug" this deck can win at T3 (maybe with highest difficult).