Regarding cards that are restricted other than banned, they are only applicable in a select few formats where players are only allowed one copy of the card in their main deck and sideboard
Conveniently, you start a game of Commander with 40 life
In Draft, I'd rather lean into synergies than spells, so it's a bit mediocre, but in a thin Sealed pool, it should fit in smoothly, including the color requirements
Theres plenty of options when it comes to recent cards
When you do, cast it for its madness cost or put it into your graveyard.) Whenever a source an opponent controls deals damage to this creature, that source's controller loses that much life unless they sacrifice that many permanents of their choice
Perhaps a creature with regeneration only dies if it drops to 0 hit points AND fails a saving throw with a +5 bonus