Generally you only pump the 4th through 7th mana into this when you have nothing better to cast (or bluff) meaning you don't feel to ripped off when they do kill it in response to a level up
When you do get the effect off, its a gamble: itll mill cards from your opponent until they reveal a land, and the equipped creature gains +1/+0 per card revealed
Its just a very powerful effect for two mana, and youll never pay more than that if you build your deck around it
Thanks to the great design of this card, this removal spell can deal anywhere from 0, 1, 2, 3, or more damage to a creature based on how much Energy you have accrued up to that point in the game
Arcane Denial is almost better than Counterspell here and that's saying a lot
You'll also be able to find every card in the Commander decks in traditional foil in Magic: The Gathering Fallout Collector Boosters